How long is a debt valid in texas?

This is a discussion on How long is a debt valid in texas? within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; Written contract signed five years ago....

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Old Nov 24th, 2007, 10:05 AM   #1
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Default How long is a debt valid in texas?

Written contract signed five years ago.
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Old Nov 24th, 2007, 10:35 AM   #2
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Default Re: How long is a debt valid in texas?

The Texas Civil Practice & Remedies Code provides a 4-year limitations period for types of debt. The SoL begins after the day the cause of action accrues, (Section 16.004 (a) (3)).

Statute of Limitations (SoL) on debt is the legal time limit that bars enforcement of the debt through the court system. It does not apply to all debts!

Not all debt has a statute of limitations. Also, when the SoL expires, it can be used as a defense to bar collectors from collecting through the courts, however the debt DOES NOT go away. Collectors can still attempt to collect the debt using other legal dunning methods

For instance, there is NO statute of limitations on:

= Federal Student Loans;
= Most Types of Fines;
= Past Due Child Support (state dependent); and
= *Taxes (In many cases, income taxes have a 10-year SoL but this can be suspended as well as have more time added by filing the proper forms. Check with a local tax resolution expert about your particular situation.

The Statute of Limitations on debt depends on the type of debt and your State's civil debt collection codes. Generally, unsecured debt expires 3 to 6 years after the last missed payment or the consumer's last activity on the account. Written contracts such as car loans generally expire after 6 years. Judgments can last up to 20 years and can require the judgment be renewed at a certain point such as the 6-year point.
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Old Nov 25th, 2007, 12:43 PM   #3
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Default Re: How long is a debt valid in texas?

See also debts and judgments: http://www.worldlawdirect.com/article.php?id=1758
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