Can debt collection agencies go after me for my husband's debt?
How do I write a debt validation letter?
If your spouse dies with student loan debt are you then responsible for the debt?
Is there a statue of limitations in California for molestation?
What are the NC credit card laws?
What is the meaning behind the Florida brass Knuckles statute?
What is the statute of limitations on old debt?
Debt is governed by federal law, not state law. There are several websites that explain the SOL for debts, including collection efforts.
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;
3. Promissory Notes,
4. Open-ended accounts.
Bankruptcy. You're broke until you throw in the towel and ruin 7 years of credit history. There is no limitation on how much you can owe.
Well there are certain limitations to the debt. I believe it can not exceed the total amount declared for bankruptcy. Be sure to stay within these codes because the NC is very strict about this.
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.
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.
Court judgement of a debt, 10 yrs. Contract and sale of personal property 10 yrs, Bankruptcy, death or disabilty, varies. This is so variable, you need to consult an attorney.
The law regarding debt is a federal law. You can find information about the SOL regarding debt at many different websites.
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