Legal Question in Credit and Debt Law in Ohio

Yes, there are several, depending on the type of debt.

Contracts not in writing have a statute of limitations of 6 years. For written contracts entered into prior to September of 2012, the statute of limitations is 15 years. For written contracts entered into after September of 2012, the statute of limitations is 8 years.

Debt that is outside the statute of limitations is called time-barred debt. Debt collectors can attempt to collect a time-barred debt, however, they cannot rely on a court of law to do so. Therefore, while a debt collector can contact a debtor and attempt to collect a time-barred debt, they cannot successfully file a lawsuit against the debtor for that debt.

The statute of limitations begins to run when the debt goes into default.