Legal Question in Credit and Debt Law in Georgia
Statue of Limitations on debts in Georgia
I have suit papers for a 12 year old debt, Do I legally have to pay?
Asked on 6/22/04, 7:43 pm
1 Answer from Attorneys
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
Re: Statue of Limitations on debts in Georgia
You may.
The statute of for a written contract is 6 years from when it becomes due and payable and the six (6) year period runs from the date of last payment. (OCGA 9-3-24)
The statute for an open account is 4 years, (OCGA 9-3-25).
But, if the loan papers were signed under seal, the statute is 20 years, (OCGA 9-3-23) No instrument is considered under seal unless it�s stated in the body of the instrument.
Answered on 6/22/04, 8:59 pm
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