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

The statute of limitations on a debt in Washington is determined by the type of debt it is. The statute of limitations for open-ended accounts like credit cards is three years from the date of the last payment or from the date of the last activity on the account. For closed-ended accounts like car loans or mortgages, the statute of limitations is six years from the date of the last payment. If it has been more than the number of years specified by the statute of limitations, the creditor cannot legally sue you for the debt. If you are unsure of the type of debt you have and when the statute of limitations begins, you can contact the creditor directly. Alternatively, you can look up the laws in your state regarding the statute of limitations on debt. This information can be found on the website of the Washington Department of Financial Institutions. If the debt is already in collection and the statute of limitations is close to expiring, it is important to check with a lawyer or the relevant state agency to ensure you understand the legal implications. It is also important to remember that a creditor might still attempt to collect a debt that is no longer legally enforceable. In conclusion, you can determine the statute of limitations on your debt by contacting the creditor directly, or looking up the applicable laws in your state, such as those found on the website of the Washington Department of Financial Institutions. It is also important to seek legal advice if a debt is already in collection to understand the legal implications of the statute of limitations expiring.

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

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