Debt Collection Problems

Debt Collection Laws

Missouri Statute of Limitations on Debt Collection

Have you recently been served with a lawsuit?  If you have, perhaps the first thing you want to find out is whether the statute of limitations has expired on this case.  The statute of limitations is the limit of time the creditor had to file this lawsuit against you.  If they did not file it in a timely manner, the case should be dismissed.  Check to see the limitations period in your state below, and if the debt had gone into default longer ago than the statute of limitations period, you may be able to defeat that lawsuit.  

Written agreement that contemplates the payment of money or property: 10 Years, (Missouri Revised Statute §5l6.ll 0). NOTE: Under certain circumstances, the contractual statute of limitations may be reduced to five years.

Open accounts: 5 years, (Mo. Rev. Stat. §5l6.l20).

Talk to a lawyer now for any further Missouri Statute of Limitations concerns. Contact SmithMarco, P.C. here or at 888-822-1777 for a free consultation.