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Statute of Limitations on Debt Collection by State Credit Com  Form

Statute of Limitations on Debt Collection by State Credit Com Form

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one of the most important affirmative defenses is a statue of limitations so i'm going to tell you guys about the statute of limitations in illinois okay the statute of limitations is just that it is a statute a law that limits the amount of time that somebody can bring a lawsuit against you okay in this case we're talking about lawsuits for debt collection in particular so how the statutes in illinois work is they break it down into different sections and they talk about different types of debts that people can sue you for all right so first up oral debt this is if you agree to a contract verbally then the statute of limitations is five years right so that means after five years it can't be sued for a debt that you agreed to pay orally uh i don't know many people out there who are agreeing to debts or agreeing the contracts verbally well that's the case for this so next up written debt statute of limitations for that is 10 years that's a

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