What is the statute of limitations for non-payment on a unsecured credit card debt?

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What is the statute of limitations for non-payment on a unsecured credit card debt?

Asked on August 12, 2011 Michigan

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

The statute of limitations in MI for an open account (i.e. credit card debt) is 6 years from the date of the last activity. However, the date of last activity can be the the last date the you entered into a repayment plan or otherwise acknowledged that you owe this debt (in some jurisdictions this includes even a phone conversation that you had with your creditor or a debt collector). Additionally, the SOL applies to the time in which a judgment can be obtained. Once a judgement has been granted, a different time limit applies. In MI, a civil judgment for unpaid debt expires after 10 years. Although a creditor with a judgment against you can renew the judgment before the expiration date for an additional 10 years.


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