Legal Question in Credit and Debt Law in Texas
Statute of Limitation on Accounts
In the state of Texas:
1. What is the statute of limitations for a credit card company or a debt collection company to file suit against a consumer after the debt is written off?
2. If the debt is disputed, does this make a difference?
2 Answers from Attorneys
Re: Statute of Limitation on Accounts
Limitations in Texas is four years from the date of default, whether disputed or not. Other states may have longer times.
Re: Statute of Limitation on Accounts
Section 16.004 of the Texas Civil Practices and Remedies Code (the link to Texas Statutes may be found on my links page on my website http://www.reasonable-doubt.com) states a four year statute of limitations for debt, subject to certain exceptions. However, credit reporting agencies may place bad debts on a credit record for seven years unless it is a large amount in which case the time period changes.
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