Debt Collection Problems

Debt Collection Laws

Ohio Statute of Limitations on Debt Collection

You are not protected from the collection efforts of a creditor via the statute of limitations just because a debt is old. For purposes of a statute of limitations, important information to track is the time that the debt became a "charged off" account. In other words, you don't start counting from the day you opened the credit account. The counting starts from the date closed or date you stopped paying for it. In order to combat harassment and any lawsuits from creditors, try to locate your last known payment file.

Written or oral account: 6 years, (O.R.C. §2305.07).

Written contract: 8 years, (O.R.C. §2305.06).

Oral contract: 6 years (O.R.C. §2305.07).

Note payable at a definite time: 6 years, (O.R.C. § 1303 .16(A)); (2)).

Demand note: 6 years after the date on which demand is made or 10 years if no demand is made and neither principal nor interest has been paid over that time (O.R.C. §1303.16(B)).

Dishonored check or draft: 3 years after dishonor, (O.R.C. §1303.16 (C)). 

Feel free to contact the experienced attorneys at SmithMarco, P.C. here or at 888-822-1777.