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The statute of limitiations for a debt in Illinois is 10 years. In 1998 the Statute was "ammended". Anything 1998 or later is only a debt for 10 years, then it expires. Check the statutes in Illinois for the exact month in 1998. NOTE: The debt only expires if there have been no payments on the debt, or no attempts to collect the debt within 10 years. If it's important, get a good attorney for specifics.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoIt varies depending on the document that creates the debt. Written agreements, including Promissory notes are set at 10 years in Illinois. Oral agreements and open ended accounts (credit cards) are set at 5 years.
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