Does the statute of limitations on a debt start from the time the debt becomes delinquent?

I first became delinquent back 6 years ago. The statute of limitations in my state is 6 years which is up this year. I have attempted to pay the collection agencies this year but it seems like a never ending battle to pay them and the normal bills (rent, utilities, daycare etc).

Asked on December 5, 2011 under Bankruptcy Law, Colorado

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

In most states the statute of limitations for an obligation owed begins to run when there is a breach of the obligation by one party to pay on the debt when due. In essence the statute of limitations to file a lawsuit begins to run when the plaintiff has been damaged by the fact that in your situation payment when due has not been paid.

If you have not paid any part of the debt you are writing about for six years and no lawsuit has been filed by the judgment creditor, there is a good chance that the debt owed by you may be time barred under your state's statute of limitations.


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