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When does the statute of limitations start for credit card debt?

When does the statute of limitations start for credit card debt?

Full question:

Could anyone tell me when the statue of limitation on credit card debt? My understanding is when the debt became in default not when the credit card company charges off the debt. Therefore if a consumer misses a payment on July 1, 2000 and never gets the balance up that is when the account goes into default and the time starts ticking. What if someone makes a payment after that, but does not bring the account up to balance. Are they still considered in default?

Category: Debts and Credit
Date: 04/07/2025
State: National

Answer:

Statutes of limitations for credit card debt vary by state. Generally, the statute begins when the debt becomes due and payable, often when a payment is missed. In some states, making a partial payment or acknowledging the debt can reset the statute of limitations, starting it anew. Therefore, if a consumer misses a payment on July 1, 2000, that date typically marks the start of the limitation period. However, if they make a payment afterward, even if it doesn't bring the account current, it could affect the timeline. Always check your specific state laws for precise details.

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?

Credit card debt typically becomes uncollectible after the statute of limitations expires, which varies by state. In many states, this period ranges from three to six years from the date of the last payment or default. Once this time frame passes, creditors can no longer take legal action to collect the debt. However, the debt may still exist, and creditors might attempt to collect it through other means, such as phone calls or letters.

How long before a credit card debt becomes uncollectible?

A credit card debt generally becomes uncollectible after the statute of limitations runs out, which can be three to six years depending on the state. This period starts from the date of the last missed payment or the date the debt was deemed in default. After this time, creditors cannot legally pursue collection through the courts, although they may still attempt to collect the debt.

Can a 10 year old credit card debt still be collected?

Whether a 10-year-old credit card debt can still be collected depends on the statute of limitations in your state. In many states, the statute of limitations for credit card debt is typically three to six years. If the debt is beyond this period, creditors usually cannot take legal action to collect it. However, they may still contact you for payment, as the debt itself does not disappear.