Settlement Offers and Statute of Limitations on Debts
|
State |
Oral |
Written |
Promissory |
Open-ended Accounts |
|
AL |
6 |
6 |
6 |
3 |
|
AR |
5 |
5 |
5 |
3 |
|
AK |
6 |
6 |
3 |
3 |
|
AZ |
3 |
6 |
6 |
3 |
|
CA |
2 |
4 |
4 |
4 |
|
CO |
6 |
6 |
6 |
3 |
|
CT |
3 |
6 |
6 |
6 |
|
DE |
3 |
3 |
3 |
4 |
|
DC |
3 |
3 |
3 |
3 |
|
FL |
4 |
5 |
5 |
4 |
|
GA |
4 |
6 |
6 |
4 |
|
HI |
6 |
6 |
6 |
6 |
|
IA |
5 |
10 |
5 |
5 |
|
ID |
4 |
5 |
5 |
4 |
|
IL |
5 |
10 |
10 |
5 |
|
IN |
6 |
10 |
10 |
6 |
|
KS |
3 |
5 |
5 |
3 |
|
KY |
5 |
15 |
15 |
5 |
|
LA |
10 |
10 |
10 |
3 |
|
ME |
6 |
6 |
6 |
6 |
|
MD |
3 |
3 |
6 |
3 |
|
MA |
6 |
6 |
6 |
6 |
|
MI |
6 |
6 |
6 |
6 |
|
MN |
6 |
6 |
6 |
6 |
|
MS |
3 |
3 |
3 |
3 |
|
MO |
5 |
10 |
10 |
5 |
|
MT |
3 |
8 |
8 |
5 |
|
NC |
3 |
3 |
5 |
4 |
|
ND |
6 |
6 |
6 |
6 |
|
NE |
4 |
5 |
5 |
4 |
|
NH |
3 |
3 |
6 |
3 |
|
NJ |
6 |
6 |
6 |
6 |
|
NM |
4 |
6 |
6 |
4 |
|
NV |
4 |
6 |
3 |
4 |
|
NY |
6 |
6 |
6 |
6 |
|
OH |
6 |
15 |
15 |
6 |
|
OK |
3 |
5 |
5 |
3 |
|
OR |
6 |
6 |
6 |
6 |
|
PA |
4 |
6 |
4 |
6 |
|
RI |
10 |
10 |
6 |
4 |
|
SC |
3 |
3 |
3 |
3 |
|
SD |
6 |
6 |
6 |
6 |
|
TN |
6 |
4 |
6 |
6 |
|
TX |
4 |
4 |
4 |
4 |
|
UT |
4 |
6 |
6 |
4 |
|
VA |
3 |
6 |
6 |
3 |
|
VT |
6 |
6 |
5 |
4 |
|
WA |
3 |
6 |
6 |
3 |
|
WI |
6 |
6 |
10 |
6 |
|
WV |
5 |
15 |
6 |
4 |
|
WY |
8 |
10 |
10 |
8 |
People pay off collection accounts and charge-offs which they do not have to pay off because the Statute of Limitations has already expired for the open account. They pay off these accounts because the accounts still appear on their credit reports. Even though a debt may no longer legally appear on your credit report after 7 years, you could still be sued for the debt if the statute of limitations for your debt in your state has not expired.
