When does a the statute of limitations start .

[hilbuillu]

When does a the statute of limitations start . Is it when you sign the contract oe when the contract ends?

[sony90inch]

The date of last activity (last payment made) or the date you opened the account is the correct answer, whichever came later. Also please don’t be confused with the different types of statutes of limitations. There is a statute on the amount of time to collect and also a statue on the time allowed to be reported on your credit bureaus. The statute of time to collect varies by state and also by type of debt. Here is a direct link the the different statutes to COLLECT debt http://www.expert-credit-advice.com/statute_of_limitations.htm . The amount of time allowed to report neagbtive information is 7 years except for chapter 7 bankruptcy is 10 years and some judgments are renewable in somestates for another 15-20 years.