Is there a Statute of Limitations for Credit Card Debt?

What is the Statute of Limitations Credit Card Debt

The “statute of limitations” is a legal term defining a length of time a party has to legal bring a claim against another party before they lose their right to bring the claim forever.  As it relates to credit card debt it means how long a creditor has to sue a consumer when they stop paying their credit card bills.


For credit card debt, the statute of limitations begins with the consumer’s first missed payment.  From the date of the first missed payment, the creditor has a period of years to sue the consumer before they lose the right to sue.  If a consumer misses a number of payments and then makes a payment, then misses thereafter, the statute of limitations does not begin to run until the second set of missed payments begins.

If you have debt within or outside of the statute of limitation, contact a qualified debt settlement attorney.  A qualified debt settlement attorney can explain the legal issues that surround your debt and can often work with the creditor to settle your debt for a fraction of the original balance.  Consumer and business debt is complicated.  Contact a qualified debt settlement attorney to address the matter.



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Kevin Fallon McCarthy

Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.