New York Statute of Limitations on Debt Collection
What is statute of limitations? It is a limit on the time that a
party has to file a lawsuit for an alleged wrong. For most consumer
cases, that would be a breach of contract, such as paying off a
credit card debt back to the credit card company. In other words,
the statute of limitations is the time with which the credit card
company has to file a lawsuit against a person they claim has
breached the agreement to pay. If this time allowed by the state
has already passed, you can no longer be sued successfully for the
N. Y. Civil Practice Law and Rules: Chapter Eight of the
Consolidated Laws, Article 2 - Limitations of Time:
212. Actions to be commenced within ten years. (a) Possession
necessary to recover real property. (b) Annulment of letters
patent. (c) To redeem from a mortgage.
213. Actions to be commenced within six years: where not
otherwise provided for; on contract; on sealed instrument; on bond
or note, and mortgage upon real property; by state based on
misappropriation of public property; based on mistake; by
corporation against director, officer or stockholder; based on
213-a. Actions to be commenced within four years; residential
214. Actions to be commenced within three years: for non-
payment of money collected on execution; for penalty created by
statute; to recover chattel; for injury to property; for personal
injury; for malpractice other than medical or dental malpractice;
to annul a marriage on the ground of fraud.
S 203. Method of computing periods of limitation generally. (a)
Accrual of cause of action and interposition of claim. The time
within which an action must be commenced, except as otherwise
expressly prescribed, shall be computed from the time the cause of
action accrued to the time the claim is interposed.
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