How long can debt be collected

You could also decide to pay nothing at all. The debt collector may still try to contact you to request that you pay, but you can submit a written request asking them to stop communications. If your debt gets too old and the statute of limitations expires, debt collectors may not be able to sue you to enforce the debt.

Find out what the statute of limitations is in your state to determine if a claim against you is time-barred. If it is, be careful about making any payments until you have a plan in place to address the debt. Even partial payments on a debt in collections could restart the clock, leaving you facing the risk of being sued by a collector for what you owe. And keep in mind that the statute of limitations on debt collectors going after you for debt is different than the amount of time a derogatory mark can stay on your credit reports.

The economic effects of the coronavirus pandemic have made it difficult for many Americans to pay off debt. But regulations in place under the FDCPA mean debt collectors still have to follow standard collection practices — even during a pandemic.

And there are other relief measures that may be available from the federal, state or local government , your mortgage or auto lender , credit card issuers or your student loan lender. Image: Woman on the phone dealing with bills. Each state can set limits on the amount of time that debt collectors have to take legal action. This limit is often called the statute of limitations on debt.

Advertiser Disclosure We think it's important for you to understand how we make money. While we adhere to strict editorial integrity , this post may contain references to products from our partners.

Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence.

Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you.

With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to:. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next.

Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions.

We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. Bankrate follows a strict editorial policy , so you can trust that our content is honest and accurate.

The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site.

Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site.

While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. This content is powered by HomeInsurance. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions such as approval for coverage, premiums, commissions and fees and policy obligations are the sole responsibility of the underwriting insurer.

The information on this site does not modify any insurance policy terms in any way. The answer is complicated. Each state has its own statute of limitations on debt, and after the statute of limitations has expired, a debt collector can no longer sue you in court for repayment. However, in many places, debt collectors can still try to collect on old debts beyond the expiration of the statute of limitations.

Credit card debt fell 17 percent during the pandemic , but not everyone came out on top. Consumers may start to receive calls or notices from the creditor, but things may escalate if the creditor is unsuccessful.

At this point, the consumer will likely start to hear from the debt collector. Neither the debt nor the payment has changed, but another entity, the debt collector, now has the right to collect the payment. The statute of limitations is a law that limits how long debt collectors can legally sue consumers for unpaid debt. The statute of limitations on debt varies by state and type of debt, ranging from three years to as long as 20 years. Also be wary of making payments on your debt or making a payment agreement with your creditor — doing so could reset the statute of limitations on your debt and make it legal for debt collectors to sue.

Consumers have many protections on debt collection activities, particularly after the statute of limitations has expired. The most important thing to remember is to avoid acknowledging that the debt is yours if a debt collector calls you about an old debt.

The money they say you owe might not be your debt. It might belong to someone with a similar name or someone who once had your telephone number. In some cases, claiming the debt can reset the statute of limitations. The person calling you might be a scam artist.

Never make a payment or give out personal information over the phone, including information about the debt. Debt collectors are required to provide you with a written notice within five days after first contacting you about a debt. Many federal benefits are generally exempt from garnishment, except to pay delinquent taxes, alimony, child support, or student loans.

States have their own laws about which state benefits can be garnished. Federal benefits that are generally exempt from garnishment except to pay delinquent taxes, alimony, child support or student loans include:. If a debt is time-barred, a debt collector can no longer sue you to collect it.

If you do get sued for a time-barred debt, tell the judge that the statute of limitations has run out. How long the statute of limitations lasts depends on what kind of debt it is and the law in your state — or the state specified in your credit contract or agreement creating the debt. Also, under the laws of some states, if you make a payment or even acknowledge in writing that you owe the debt, the clock resets and a new statute of limitations period begins.

It depends on which state you live in. But even if you live in a state where a collector may still contact you, they cannot sue or threaten to sue you over a time-barred debt. If you want to stop a collector from contacting you, send your request by mail. Start by asking the collection company what its records show about when you made your last payment. You can also contact a legal aid office in your state, or research that information online. When asking about your debt, remember that in some states, if you acknowledge in writing that you owe the debt, the clock resets and a new statute of limitations period begins.

Negative information — like past-due debts — can generally stay on your credit report for seven years. Remember that paying off an old debt may not erase it from your credit history.