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Statute Of Limitations

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Statute Of Limitations
Statute of Limitations (SoL) on debt is the maximum amount of legal time that creditors have to take you to court in order to recover debts owed by you. Once the statute of limitations period is over, the creditors cannot take you through the court system to recover their debts. Statute of limitations does not cover all forms of debt, for example SoL does not cover federal student loans, most type of fines such as speeding/parking tickets, past due child support or income taxes.

Note: This information is provided for you to learn about your rights regarding debt and credit. It is not meant for you to have a reason to avoid paying your debts, just because there is an SoL period on them. If you do owe a debt and have the financial means to pay
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