Legal Question in Credit and Debt Law in New York
Statute of Limitations for filing lawsuit for debt
Is there a statute of limitations a credit card company or collection company has to file a lawsuit against an individual for a debt?
Asked on 11/11/03, 10:39 pm
1 Answer from Attorneys
Guy Lewit
Guy Mitchell Lewit, Esq.
Re: Statute of Limitations for filing lawsuit for debt
yes. six years from the date the debt became due. THe statute is extended if there are payments against the debt or if there is an admission that the debt is owed. The statute is also tolled (does not run) in certain situations (if you leave the state, are a minor, and several others)...but for the most part, it's six years.
Answered on 11/12/03, 2:09 am
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