Legal Question in Credit and Debt Law in New York

Re: contractor collection

The statute of limitations on most debts is 6 years. Once reported a debt can remain on your credit report for 7 years. A judgment can be enforced for up to 20 years. Even if a debt is beyond the statute of limitations, efforts can still legally be made to collect the debt, although these efforts are limited in scope.

If you have a debt you are trying to collect, the longer you wait to forward it to a professional, the smaller the chances of successfully collecting on that debt.