What is the statute of limitations on debt?

In Massachusetts, the statute of limitations on debt is determined by the type of debt involved. For most consumer debts, the statute of limitations is six (6) years. This means that creditors have six (6) years to take some kind of legal action to recover the debt owed to them. However, the statute of limitations can be different for certain types of debt. For example, if the debt is related to a written contract, then the statute of limitations can be up to twenty (20) years. If the debt is related to the misuse of a credit card, then the statute of limitations can be up to ten (10) years. It is important to note that the statute of limitations may be different depending on the state in which a person resides. Furthermore, even if a debt is past the statute of limitations, creditors may still attempt to collect the debt from the debtor. Therefore, it is important to know the statutes of limitations for debt in Massachusetts as well as the other states in order to protect oneself from creditors.

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What is the statute of limitations on debt?

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