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.

Our mission: Online scam, fraud and con prevention from Settlement Scams. While we cannot offer legal advice we can teach and inform you so you know what to watch for