Illinois Statute of Limitations on Debt Collection
Many consumers are confused about what is meant by "statute of
limitations". Many people think that this is some kind of
limit of time that the creditor has to collect a debt. This
is untrue. In fact, in most states, a debt collector can go
on collecting infinitely.
The statute of limitations is a law restricting how long the
creditor (or owner of the debt) has to file a lawsuit against the
consumer to seek legal recovery. Thus, while a collector may
go on forever trying to collect a debt, they are limited in how
long they will have to use the court system to collect.
Open account or unwritten contract: 5 years. NOTE: Except, as
provided in 810 ILCS 5/2- 725 (UCC), actions based on a written
contract must be filed within 10 years, but if a payment or new
written promise to pay is in made during the 10 year period, then
the action may be commenced within 10 years after the date of the
payment or promise to pay.
Domestic judgments: 20 years, but can be renewed during that
Tolling: A person's absence from the state or during the time
that an action is stayed by injunction, court order or by statutory
prohibition tolls the time limit.
Non Sufficient Funds (NSF or Payment of Negotiable Instruments)
checks: 3 years of the dishonor of the draft or 10 years after the
date of the draft, whichever expired first: 810 ILCS
If you have further questions concerning Illinois Statute of
Limitations, do not hesitate to contact SmithMarco,
P.C. here for a free consultation or call us at