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Is there a statute of limitations on credit card debt?

Is there a statute of limitations on credit card debt?

Q: Can a credit card company sue you after 5 years?

Yes, a credit card company can sue you after 5 years if the statute of limitations for your state has not expired. In some states, the statute may be longer than 5 years. If you receive a summons, it's crucial to respond and attend court, even if the debt is old, to protect your rights.

Full question:

I recently received a summons for a court date for an old credit card debt, a 5 year old credit card debt that is. I was doing some research and found something called the Statute of Limitations saying that if the debt is more than 4 years old, they do not have the right to collect. Is this true? Should I have to go to court anyway to tell this to the judge or is it not going to matter if I go to court or not? I just don't want to waste my time going if it's not going to affect me in any way.

Category: Debts and Credit
Subcategory: Credit Cards
Date: 04/07/2025
State: Florida

Answer:

Yes, you should appear and present your defense.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

How long before credit card debt is uncollectible?

In most states, the statute of limitations for credit card debt is typically between 3 to 6 years. This means that creditors have a limited time to sue you for unpaid debts. Once this period expires, the debt is considered 'uncollectible' in terms of legal action. However, the debt may still exist, and creditors can attempt to collect through other means. It's important to check your state laws for specific timelines.

Can a credit card company sue you after 5 years?

What resets the statute of limitations on debt?

The statute of limitations on debt can be reset by actions such as making a payment on the debt, acknowledging the debt in writing, or entering into a new payment agreement. These actions can signal to the court that you recognize the debt, thus starting the clock over again on the statute of limitations. Always consult your state laws for specific details.