What is the statute of limitations on debt collection?

In Florida, the statute of limitations on debt collection is five years. This means that creditors generally have five years from the date of the last payment made on a debt to take legal action in order to collect what is owed. However, the exact time period can vary depending on the type of debt owed. Written contracts—including promissory notes—have a five-year statute of limitations, while other types of debt, such as credit card debt, have a four-year statute of limitations. Additionally, the statute of limitations may be extended if a person makes a payment or agreement on a debt before the five-year period has elapsed. If a creditor attempts to collect on a debt that is beyond the statute of limitations, a consumer has the right to invoke the defense of the statute of limitations in court. This is a defense provided by the Consumer Debt Defense Law in Florida. This law is designed to protect consumers from creditors attempting to collect on debts that are too old to legally enforce. It is important for consumers to understand the statute of limitations on debt collection in their state. This knowledge can help protect them from potential legal action from creditors trying to collect debts that are no longer enforceable. Community legal aid organizations, such as the Florida Legal Services, can provide additional information, advice, and assistance on the statute of limitations in Florida.

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What is the statute of limitations on debt collection?

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