Yes, every state has a statute of limitations, but it varies from state to state. The average is 6 years. The SOL begins on the date of the last transaction with the account.
Once this SOL date expires, the creditor no longer has a legal means to sue you for take action. They can still sue, but all you have to do is appear in court and offer an "affirmative defense", or state that the SOL has expired. Immediate dismissal.
|