Legal Question in Bankruptcy in Utah
Statute of limitations
What is the statute of limitations for unsecured debt ?
Asked on 5/04/04, 8:33 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Statute of limitations
I assume your question intended to ask "Is there a time at which an unsecured debt can no longer be collected?" If there is a written contract which creates the debt, and the purchase defaults in making payments, the lender may file suit to collect the debt anytime within four years of the date of default. If a judgment has been rendered, collection on the judgment must commence within eight years.
Answered on 5/05/04, 10:28 am
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