The following is provided for informational purposes only and is not intended as legal advice or credit repair.
When it comes to old, unpaid debts, there’s a bit of confusion around the term “statute of limitations. In particular, customers occasionally mistakenly think that doing specific things with old, past-due debts will extend the period of time those debts remain on your credit report.
Statutes of limitations can be difficult to understand, particularly when it comes to debt. Here is the information you need to make the best decisions for your particular situation.
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Can a time-barred debt be revived?
In contrast to adverse entries on your credit record, specific actions can reset or “revive” the statute of limitations. If you make a payment on an old, delinquent debt, the statute of limitations is reset. In fact, the statute of limitations might be reset if you just acknowledge that the debt is yours when on the phone with a collection agency.
Generally speaking, if you don’t intend to pay off a debt in full, it’s best to avoid claiming it. When you’re contacted regarding an old debt, find out who can verify it and when the last payment was made.
When does the clock start on my state’s statute of limitations?
While every state has its own laws, per the Federal Trade Commission, the “clock” generally starts at the moment you miss a payment and your account becomes delinquent. If the statute of limitations is 3 years and you missed a payment due on May 1, 2023, then by the end of the day on May 1, 2026 that debt will likely be considered “time-barred.”
Do You Still Owe a Debt After the Statute of Limitations Expires?
FAQ
How long before a debt is uncollectible?
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State
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Written
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Oral
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California
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4 years
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2
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Colorado
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6 years
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6
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Connecticut
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6 years
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3
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Delaware
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3 years
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3
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What happens after 7 years of not paying debt?
Can a 10 year old debt still be collected?
How long before a debt is written off?
When does a debt expire?
A debt doesn’t generally expire or disappear until its paid, but in many states, there may be a time limit on how long creditors or debt collectors can use legal action to collect a debt. In many states, statues of limitations are in place to prevent creditors and debt collectors from using legal action to collect on an older debt.
How long does a debt last after a payment?
The statute of limitations on your debt can restart if you make a payment, agree to pay the debt or if you charge an old account. Some types of debt will “expire” after three to six years — meaning a debt collector can no longer sue you for them.
How long does a credit card debt last?
Depending on which state you’re in, the statute of limitations could be from three to 10 years. If the state has a six-year statute of limitations, that debt would have been collectible using the legal system until 2021—six years after the last activity on the account.
Do time-barred debts expire?
While the number of years after which debts expire varies from state to state, you do have rights related to collection of time-barred debts under both state and federal law. Lemberg Law has a team devoted to representing people who have been harassed, threatened, deceived, or abused by debt collectors.