Statute of limitations on consumer debt?

Is their a statute of limitation on consumer debt? How long are you responsible for a credit card debt?

[Studly]

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.

[sjwar]

Originally Posted by ssphoenix

Is their a statute of limitation on consumer debt? How long are you responsible for a credit card debt?

State and federal laws limit how long a creditor has to collect a debt from you. What you may not know is that if enough time has passed, you may not even have to pay back a debt anymore.

[Lian]

Google on "statute of limitations," "debt," (your state name), "civil code," or something to that effect.

Each state/federal SOL civil statute on debt varies widely. Most do not consider, in any legal action, the matter of SOL expiration as a bar to owing the debt UNLESS you show up in court, and prove it. Proof is a matter of fact and a matter of law.

Your proof is the relevant date, under your state SOL/federal statute, of the asserted date of commencement of running of the SOL period. Some statutes provide for reset of the date of commencement of running of the SOL should certain events occur, such as payments or firm offers to pay. In court, your asserted date of commencement of the SOL period will be subject to dispute. You must offer your proofs.

The matter of law is citing your state/federal SOL statute, which is the basis for your showing of fact of the date of commencement of the SOL period, and what that period is.
Some few states prevent the bringing of legal action if SOL has clearly expired. Those situations involve clear dates of uncontroverted commencement, as defined by their state civil code.

Granting of a motion for dismissal of a claim for debt based on your proof of expiration of SOL results in mandatory dismissal of their action, and thus obligation for the debt. But expiration of SOL almost always requires you to show up in court, assert it as a defense, and prove it. It just doesnt happen.