Statute Of Limitations On Debt By State 2020

The statute of limitations on debt is a rule limiting how long a creditor can sue an individual for payment on a debt. All consumer debts have limits on the number of years creditors have, and each state has its own limitations.

Debts that have passed the statute of limitations are known as time-barred debt. Even after the statute of limitations passes, these debts still appear on credit reports and your credit rating is still affected. Furthermore, having time-barred debts does not mean you are no longer responsible for paying the debt back.

Every state has its own statute of limitations on debt, and each varies depending on the type of debt you have. There are four types of debt. An oral agreement is a debt made based on a verbal agreement to pay back the money. A written contract is a debt that came with a contract signed by you and the creditor. A promissory note is a written agreement to pay back the debt in payment at a specific interest rate by a certain date and time. An open-ended account is an account with a revolving balance that you can repay and then borrow again such as a credit card.

It is important that you establish which type of debt you have when looking at each state’s limits.

Statute Of Limitations On Debt By State 2020

State Written Oral Promissory Open-Ended
Wyoming10 years8 years10 years10 years
West Virginia10 years5 years6 years10 years
Rhode Island10 years10 years10 years10 years
Missouri10 years5 years10 years10 years
Louisiana10 years10 years10 years10 years
Kentucky10 years5 years15 years10 years
Iowa10 years5 years5 years10 years
Illinois10 years5 years10 years10 years
Ohio8 years6 years15 years8 years
Montana8 years5 years8 years8 years
Wisconsin6 years6 years10 years6 years
Washington6 years3 years6 years6 years
Vermont6 years6 years5 years6 years
Utah6 years4 years6 years6 years
Tennessee6 years6 years6 years6 years
South Dakota6 years6 years6 years6 years
Oregon6 years6 years6 years6 years
North Dakota6 years6 years6 years6 years
New York6 years6 years6 years6 years
New Mexico6 years4 years6 years6 years
New Jersey6 years6 years6 years6 years
Nevada6 years4 years3 years6 years
Minnesota6 years6 years6 years6 years
Michigan6 years6 years6 years6 years
Massachusetts6 years6 years6 years6 years
Maine6 years6 years6 years6 years
Indiana6 years6 years10 years6 years
Hawaii6 years6 years6 years6 years
Georgia6 years4 years6 years6 years
Connecticut6 years3 years6 years6 years
Colorado6 years6 years6 years6 years
Arizona6 years3 years6 years6 years
Alabama6 years6 years6 years6 years
Virginia5 years3 years6 years5 years
Oklahoma5 years3 years5 years5 years
Nebraska5 years4 years5 years5 years
Kansas5 years3 years5 years5 years
Idaho5 years4 years5 years5 years
Florida5 years4 years5 years5 years
Arkansas5 years3 years3 years5 years
Texas4 years4 years4 years4 years
Pennsylvania4 years4 years4 years4 years
California4 years2 years4 years4 years
South Carolina3 years3 years3 years3 years
North Carolina3 years3 years5 years3 years
New Hampshire3 years3 years6 years3 years
Mississippi3 years3 years3 years3 years
Maryland3 years3 years6 years3 years
Delaware3 years3 years3 years3 years
Alaska3 years3 years3 years3 years