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What is the NC statute of limitations on debt?

asked by Wes (16)

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Tags:  debt  legal  what is

answers

The statute of limitations on debt in North Carolina is between 3 to 5 years depending upon which type of debt contract you have. There are 4 main types of debt contracts involved; 1. Oral, 2. Written, 3. Promissory Notes, 4. Open-ended accounts.

7 votes

It lasts for either 3 years or 10 years after the last payment was made, depending on the type of debt. I can't give more detail in 30 words.

6 votes

Express or implied contracts not under seal are three years. Open accounts are three years from last payment. Contracts and personal property sales under seal are ten years.

5 votes

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