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The statute of limitations for credit card debt in Florida is four years. Because debts based on open accounts, such as credit cards, have a statute of limitations of four years, the credit card issuer has four years from the date of a missed payment to file a lawsuit against you.
In Florida, the period for collecting on written contracts, such as private student loans and personal loans, is typically five years, while the statute of limitations for credit card debt (considered an open-ended account) is four years.
The Florida statute of limitations on credit card debt gives a credit card company only four or five years to sue. The time is four years if the credit card company and the consumer do not have a written agreement.
The statute of limitations on debt in Florida is four years. This means creditors have four years to file a lawsuit against you for unpaid debt.
In most cases, the maximum statute of limitations for Florida debt is five years, although some debts only have a statute of limitations of four. This means a creditor only has four to five years to sue you for the debt you owe.
The “Statute of Limitations” for credit card debt is a law limiting the amount of time lenders and collection agencies have to sue consumers for nonpayment. That time frame is set by each state and varies from just three years (in 13 states) to 10 years (two states) with the other 25 states somewhere in between.
What Is the Statute of Limitations for Debt Collection in Florida? Consumer debts backed by written contracts have a statute of limitations of five years. The same timeline applies for open-ended credit accounts, like credit cards.
The Florida statute of limitations on debt collection for written contracts and promissory notes is five years. Oral contracts and open-ended accounts (including credit cards) Florida statute of limitations on debt collection is four years. The Florida statute of limitations for judgment collections is 20 years from the date of the judgment.
A statute of limitations on Florida debt is the amount of time debt collectors legally have to act to collect your debt. The time length varies from state to state, usually falling between 3 years and 6 years, but can even be up to 10 years to 15 years.
Each state has their own laws as to how long the statute of limitations is and it varies tremendously by state and also by the type of action. In Florida, the statute lasts five years for a written contract and four years for a credit card account.