State by State Breakdown of the Statute of Limitations

State by State Breakdown of the Statute of Limitations.

Every State has a different set of laws related to the Statute of Limitations and interest that can be charged on a debt. Below is a State by State breakdown that will let you know what is still legally collectible out of your accounts receivables. It is a good idea to watch the age of your accounts as there may be options to pursue legal action and extend the life of the debt. Also, it is a good idea to review your older receivables as they can be a hidden asset that could generate additional revenue.

ALABAMA

STATUTE OF LIMITATIONS (IN YEARS)

*         Sale of Goods: 3

*         Written Contract: 6

*         Domestic Judgment: 20

*         Foreign Judgment: 20

INTEREST RATE

*         Legal: 6%

*         Judgment: 12%

ALASKA

STATUTE OF LIMITATIONS (IN YEARS)

*         Sale of Goods: 4

*         Written Contract: 6

*         Domestic Judgment: 10

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 10.5%

*         Judgment: 10.5% or contractual

ARIZONA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 6 in Az. – 4 outside Az.

*         Domestic Judgment: 5-additional 5 upon request (indefinitely)

*         Foreign Judgment: 4

INTEREST RATE

*         Legal: 10%

*         Judgment: 10% or contractual

ARKANSAS

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 5 (partial payment stops the statute from running)

*         Sale of Goods: (UCC-2) – 4

*         Domestic Judgment: 10 – Renewable

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 6% or 5 points above the Fed. discount rate

*         Judgment: Contract rate or 10% per annum whichever is greater

 CALIFORNIA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: Reduced to writing-4

*         Open Acct.: No writing-2

*         Written Contract: 4

*         Domestic Judgment: 10 (renewable at 10)

*         Foreign Judgment: 10 (commencing with judgment debtor’s commencement of CA. residence.)

INTEREST RATE

*         Legal: 10%

*         Judgment: 10% (Unless otherwise contracted)

 

COLORADO

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 6 (signed promissory note)

*         Written Contract Goods Services: 3

*         Domestic Judgment

  1. District Court-20 (renewable every 20)
  2. County Court-6 (renewable every 6)
  3. Foreign Judgment: 6 in CO.

INTEREST RATE

*         Legal: 8%

*         Judgment: 8% (or higher if specified in contract or note)

CONNECTICUT

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Written Contract: 6

*         Oral Contract: 3

*         Domestic Judgment: 20/25

*         Small Claims Judgment: 10/15

*         Foreign Judgment: 20

INTEREST RATE

*         Legal: 8%

*         Judgment: 10%

DELAWARE

STATUTE OF LIMITATIONS (IN YEARS)

*         Sale of Goods: 4

*         Open Acct.: 4

*         Written Contract: 3

*         Domestic Judgment: No provision

*         Foreign Judgment: No provision

INTEREST RATE

*         Federal Reserve Discount Rate Plus 5% Points

DISTRICT OF COLUMBIA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 3

*         Domestic Judgment: 20

*         Foreign Judgment: Foreign Statute

INTEREST RATE

*         Legal: 6%

*         Judgment: 70% of interest rates on taxes to IRS

FLORIDA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Written Contract: 5

*         Domestic Judgment: 7 Renewable

*         Foreign Judgment: 5 if not recorded in-state

INTEREST RATE

*         Legal: 10%

*         Judgment: 10% or up to 18% if contractual

GEORGIA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Written Contract: 6

*         Domestic Judgment: 7

*         Foreign Judgment: 5

INTEREST RATE

*         Legal: 7%

*         Judgment: 12%

*         Commercial Accounts: 18%

HAWAII

STATUTE OF LIMITATIONS (IN YEARS)

*         Sale of Goods: 6

*         Open Acct.: 6

*         Written Contract: 6

*         Domestic Judgment: 10

*         Foreign Judgment: 6 for regis./10 after Regis.

INTEREST RATE

*         Legal: 10% (no written contract)

*         Judgment: 10% (no written contract)

IDAHO

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Oral Contract: 4

*         Written Contract: 5

*         Domestic Judgment: 5 renewable

*         Foreign Judgment: 6 renewable

INTEREST RATE

*         Legal: 12%

*         Judgment: 10.875% plus the base rate

ILLINOIS

STATUTE OF LIMITATIONS (IN YEARS)

*         Sales (UCC): 4

*         Open Acct.: 5

*         Written Contract: 10

*         Domestic Judgment: 20

*         Foreign Judgment: Same as foreign jurisdiction

INTEREST RATE

*         Legal: 5%

*         Judgment: 9%

INDIANA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Written Contract for payment of money   6

*         Written Contract (other than payment of money): 10

*         Written Contract for sale of goods: 4

*         Domestic Judgment:

  1. 10 on real estate
  2. 20 against the person
  3. Foreign Judgment: 10

INTEREST RATE

*         Legal: 8%

*         Judgment: 8%

IOWA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 5

*         Written Contract: 10

*         Domestic Judgment: 10-can be renewed in the 9th year

*         Foreign Judgment: 10-can be renewed in the 9th year

INTEREST RATE

*         Legal: 5%

*         Judgment: 10%

KANSAS

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 5

*         Domestic Judgment: 5 renewable

*         Foreign Judgment: 5 renewable

INTEREST RATE

*         Legal: 10%

*         Judgment: 12%

KENTUCKY

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 5

*         Written Contract: 15

*         Oral Contract: 5

*         Domestic Judgment: 15

*         Foreign Judgment: 15

INTEREST RATE

*         Legal: 8%

*         Judgment: 12%

LOUISIANA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 10

*         Promissory Notes: 5

*         Domestic Judgment: 10

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 9.75%

*         Judgment: 9.75%

MAINE

STATUTE OF LIMITATIONS (IN YEARS)

  • Open Acct.: 6
  • Written Contract: 6 + 20 (with attestment)
  • Domestic Judgment: 20
  • Foreign Judgment: 20

INTEREST RATE

*         Legal: 8%

*         Post Judgment: 15% annual (less than $30,000) T-Bill rate over $30,000

MARYLAND

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         UCC: 4

*         Specialty: 12 (contract under seal)

*         Written Contract: 3

*         Domestic Judgment: 12

*         Foreign Judgment: 12

INTEREST RATE

*         Legal: 6%

*         Judgment: 10% or contractual

MASSACHUSETTS

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct. on Contract: 6

*         Contract: 6

*         Sales (UCC) Contract: 4

*         Domestic Judgment: 20 (presumed satisfied after 20 years)

*         Foreign Judgment: 20

*         Contracts Under Seal: 20

INTEREST RATE

*         Legal: 6%

*         Judgment: 12%

*         Contract: 12%

MICHIGAN

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Written Contract: 6

*         Sales (UCC) Contract: 4

*         Domestic Judgment: 10 renewable

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 5%

*         Judgment: 7.162 changes semi-annually

*         Usury limit 25%

MINNESOTA

STATUTE OF LIMITATIONS (IN YEARS)

*         Goods Sold & Delivered (UCC): 4

*         Open Acct.: 6

*         Written Contract: 6

*         Transportation Service: 3

*         Domestic Judgment: 10 (renewable for 10)

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 6%

*         Judgment: 5% (Changes Yearly)

*         Business or Agricultural Loan: 4.5% over federal discount rate

MISSISSIPPI

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 3

*         UCC: 6

*         Domestic Judgment: 7

*         Foreign Judgment: 7 (3 if resident)

INTEREST RATE

*         Legal: 8%

*         Judgment: amount in contract if no contract amount court decides

MISSOURI

STATUTE OF LIMITATIONS (IN YEARS)

*         Sale of Goods: 4

*         Open Acct.: 5

*         Written Contract: 10

*         Domestic Judgment: 10 (Revived every 3 years)

*         Foreign Judgment: 10 (Revived every 3 years)

INTEREST RATE

*         Legal: 9%

*         Judgment: 9%

MONTANA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 5

*         Written Contract: 8

*         Domestic Judgment: 6 (over $5000) Renewable

*         Foreign Judgment: 6 Renewable

INTEREST RATE

*         Legal: 10%

*         Judgment: 10%

*         A binding written agreement may provide for interest of 15% or 6% above prime

NEBRASKA

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 4

Written Contract: 5

Domestic Judgment: 5 renewable every 5

Foreign Judgment: 5 non-renewable

INTEREST RATE

*         Legal: 12% per written instrument or contract rate

*         Judgment: 1% above bond equivalent yield as published by U.S. Treasury

NEVADA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Written Contract: 6

*         Lease: 4

*         Domestic Judgment: 6

*         Foreign Judgment: 6

INTEREST RATE

*         Legal: 2% Over Prime

*         Judgment: 2% Over Prime

NEW HAMPSHIRE

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         For Goods: 4

*         Written Contract: 3

*         For Goods: 4

*         Domestic Judgment: 20

*         Foreign Judgment: 20

INTEREST RATE

*         Judgment: 7.6%

NEW JERSEY

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Sale of Goods: 4

*         Written Contract: 6

*         Domestic Judgment: 20

*         Foreign Judgment: 20

INTEREST RATE

*         Legal: 6%

*         Judgment: No Statutory Provision

NEW MEXICO

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Written Contract: 6

*         Domestic Judgment: 14

*         Foreign Judgment: 14

INTEREST RATE

*         Judgment: 8.75% (in the absence of a written contract)

NEW YORK

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Written Contract: 6

*         Domestic Judgment: 20 (1 0 yr. renewable lien)

*         Foreign Judgment: 20 (1 0 yr. renewable lien)

INTEREST RATE

*         Legal: 16%

*         Judgment: 9%

NORTH CAROLINA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Sale of Goods: 4

*         Written Contract: 3

*         Domestic Judgment: 10

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 8%

*         Judgment: 8%

NORTH DAKOTA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct. for services: 6

*         Sale of Goods: 4

*         Written Contract: 6

*         Domestic Judgment: 10 renewable

*         Foreign Judgment: 10 renewable

INTEREST RATE

*         Legal: 6%

*         Judgment: 12%

OHIO

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Sales Contract (UCC2-725)

*         Written Contract: 15

*         Domestic Judgment: 21 renew every 5

*         Foreign Judgment: 21 renew every 5

INTEREST RATE

*         Legal: 10%

*         Judgment: 10%

OKLAHOMA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 5

*         Domestic Judgment: 5 renewable

*         Foreign Judgment: 3

INTEREST RATE

*         Legal: 6%

*         Judgment: 4% over U.S. Treasury Bill Rate of previous year. (1996 = 9.55% 1997 = 9.15%)

OREGON

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Sale of Goods: 6 (4 yrs UCC Transaction)

*         Written Contract: 6

*         Domestic Judgment: 10 – Renewable at 10

*         Foreign Judgment: 10

INTEREST RATE

*         Statutory + Judgment: 9% simple interest per annum (Unless specified by contract)

PENNSYLVANIA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Written Contract: 4

*         Domestic Judgment: 5 (writ of revival within 5 yrs.)

*         Foreign Judgment: 4

*         -Lien against real estate: 5 yrs.

*         -Personal property Ex: 20 yrs.

INTEREST RATE

*         Legal: 6%

*         Judgment: 6%

RHODE ISLAND

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 10

*         Written Contract: 10

*         Domestic Judgment: 20

*         Foreign Judgment: 20

INTEREST RATE

*         Legal: 12%

*         Judgment: 12%

SOUTH CAROLINA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 3

*         Domestic Judgment: 10

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 8.75%

*         Judgment: 14%

SOUTH DAKOTA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Sale of Goods: 4

*         Written Contract: 6

*         Domestic Judgment: 20

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 12%

*         Judgment: 10%

TENNESSEE

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Written Contract: 6

*         Domestic Judgment: 10

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 10%

*         Judgment: 10% (or contract rate) (varies with type of transaction)

TEXAS

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Written Contract: 4

*         Domestic Judgment: 10 (Renewable)

*         Foreign Judgment: 10 (Renewable)

INTEREST RATE

*         Legal: 6% with agreement can charge up to 18%. w/o agreement – statutory interest of 6% begins to run 30th day after becoming due

*         Judgment: 10%

UTAH

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 4

*         Written Contract: 6

*         Domestic Judgment: 8

*         Foreign Judgment: 8

INTEREST RATE

*         Legal: 7.35%

*         Judgment: Contract rate or Federal Judgment Rate

VERMONT

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Written Contract: 6

*         Domestic Judgment: 8

*         Foreign Judgment: 8

INTEREST RATE

*         Legal: 12%

*         Judgment: 12%

VIRGINIA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3 Last charge or payment Written Contract: 5

*         Domestic Judgment: 20

*         Foreign Judgment: 10

*         Sales of goods under article 2 is 4 years

INTEREST RATE

*         Legal: 8%

*         Judgment: 9% or contract rate whichever is higher

WASHINGTON

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Written Contract: 6

*         Domestic Judgment: 10

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 12%

*         Judgment: 12%

WEST VIRGINIA

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 5

*         Written Contract: 10

*         Domestic Judgment: 10

*         Foreign Judgment: 10

INTEREST RATE

*         Legal: 6%

*         Judgment: 10%

WISCONSIN

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 6

*         Written Contract: 6

*         Domestic Judgment: 20

*         Foreign Judgment: 20

INTEREST RATE

*         Legal: 5%

*         Judgment: 12%

WYOMING

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 8

*         Written Contract: 10

*         Domestic Judgment: 5

*         Foreign Judgment: 5

INTEREST RATE

*         Legal: 7%

*         Judgment: contract rate or 10% judgment rate

PUERTO RICO

STATUTE OF LIMITATIONS (IN YEARS)

*         Open Acct.: 3

*         Merchandise Open Acct.: 3

*         Written Contract: 15

*         Mortgage: 20

*         Domestic Judgment: 15

*         Foreign Judgment: 15

INTEREST RATE

*         Legal: 9.25% changes every 6 months (6/30/97)

*         Judgment: It is Regulated by the Commissioner of the Board of Financial institutions every 6 months.

As you can see there are a lot of variations between states on the laws they have established to determine how long someone can collect on a debt.

Disclaimer: The information contained in this blog is provided for general educational and informational purposes only and should not, under any circumstances, be construed as legal advice. PRP makes no claims or warranties as to the accuracy, veracity or completeness of the information contained in this blog and assumes no liability arising there from. PRP reserves the right to amend, supplement or delete the contents of this blog or stop publication thereof at any time and without notice.

Return to Blog

If you would like to comment to the author, please send an e-mail to protrax@prorecovery.com or go to our contact page.

PRP E-Brochure

For more information about PRP, download the PRP Information PDF.

Sign up for Future Newsletters

 

Professional Recovery Personnel is a BBB Accredited Collection Agency in Champlin, MN
PRP's Debt Collection Blog
Free Collection Reports
Get Started with Our Debt Collection Services Today
Members of the Association of Credit and Collection Professionals
Testimonials
View More of our Satisfied Clients & Testimonials