How do I determine the statute of limitations on my debt?

The statute of limitations on a debt in New York is determined by the type of debt involved. In general, the statute of limitations for debt collection in New York is six years. However, this may vary depending on the type of debt. For example, verbal contracts have a statute of limitations of four years. Written contracts have a statute of limitations of six years. Open-ended accounts, such as credit cards, have a statute of limitations of six years, and judgments have a statute of limitations of 10 years. If you are unsure of what type of debt you have, contact the original creditor of the debt to confirm what type of debt it is. Once you know the type of debt you have, you can determine the applicable statute of limitations. In addition, the statute of limitations is paused or restarted when certain events occur, such as when the debtor makes a payment on the debt. It is also important to note that the debt itself does not go away when the statute of limitations has expired - the statute of limitations merely means that debt collectors cannot sue you to collect on the debt. To ensure that you are aware of the statute of limitations on your debt, always stay up to date with the applicable laws and regulations. If you are unsure of the statute of limitations on your debt, consult a qualified attorney to ensure that you understand the rights and obligations in regards to your particular debt.

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How do I determine the statute of limitations on my debt?

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