What Is Your Statute of Limitation on a Debt?

The statute of limitation is usually between 3 to 6 years but can be as high as 15 years in some states. Check with the office of your state Atty Gen in order to find out what the statute of limitation on your debt is in your state. Some kinds of debt do not have a statute of limitation at all. This usually includes money that is owed on federal loans such as student loans, child support in some states and unpaid income taxes.

Some sneaky and unethical debt election agencies may pursue you when you change the state of your presence and use the statute of limitation prevalent in your home state if the statute of limitation is longer than the state in which you currently reside.