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: Indiana Civil & Business Lawyer

Collections: Statute of Limitations, Again

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The creditor continues trying to collect a debt that is fifteen years old. The law says the statute of limitations for a written contract is ten years and six years for an account. What gives?

The statute of limitations say when a creditor must start collecting a debt, not when it must be completed. Otherwise, the debtor can merely skip about and relieve themselves of their obligations.

Statute of limitations exist for getting the person with the injury to act rather than wait.

Full post as published by Indiana Civil & Business Lawyer on January 20, 2008 (boomark / email).

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