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Statute of Limitations

Definition

The state law that sets forth how long a creditor or collection agency can attempt to collect a debt from a person after they default on their payment obligations.


Learn more about "Statute of Limitations"


The length of time varies from state to state and typically falls somewhere between 3 - 10 years from the date of default. Note that the time can reset/restart whenever a payment is made. The Statute of Limitations can be used as a defense against a debt collection law suit. It does not impact how debt is reported on your credit report.

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To learn more, read why we started Upsolve in 2016, our reviews from past users, and our press coverage from places like the New York Times and Wall Street Journal.