Florida has statute of limitations governing how long debt collectors may pursue you in court for a debt that you did not pay. The statues are designed to keep people from being worried forever about being sued over an old debt.
Time Frame
In Florida, debt collectors have four years to file a lawsuit against you for a delinquent credit card debt and five years to sue you for a debt resulting from a promissory note or contract. Florida law gives debt collectors up to seven years to collect on a judgment previously won in court.
Ramifications
Debt collectors lose a powerful advantage---the right to sue---once the statue of limitations runs out. Most debts cannot be listed on credit reports for more than seven years, and in Florida the statue of limitations begins expiring after four years. Someone in Florida with, for example, an 8-year-old debt could simply refuse to pay it.
Warning
Statues of limitations can be reset in Florida and all other states. A partial payment on an old debt in Florida could completely reset the clock, giving debt collectors at least four additional years to file a lawsuit.
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