how many years does a creditor have to collect on a debt ...

Submitted by buzzech on

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how many years does a creditor have to collect on a debt

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In Michigan, the statute of

Submitted by elizabethcarlsen on

In Michigan, the statute of limitations for a debt is six years regardless if the debt is a written contract or an open-ended account like a credit card. The statute of limitations is the amount of time your creditor has to file a claim for the unpaid debt, and is a defense you can raise at trial. However, if you make a payment toward your debt, the statute of limitations will be reset, even if the debt was going to expire soon. Therefore, you should contact an attorney if you have any questions about the enforceability of your debt by a creditor. For more information about Michigan’s debt protection statutes, see http://www.mplp.org/Resources/mplpresource.2006-04-07.9278796794.

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In Michigan, the statute of

Submitted by elizabethcarlsen on

In Michigan, the statute of limitations for a debt is six years regardless if the debt is a written contract or an open-ended account like a credit card. The statute of limitations is the amount of time your creditor has to file a claim for the unpaid debt, and is a defense you can raise at trial. However, if you make a payment toward your debt, the statute of limitations will be reset, even if the debt was going to expire soon. Therefore, you should contact an attorney if you have any questions about the enforceability of your debt by a creditor. For more information about Michigan’s debt protection statutes, see http://www.mplp.org/Resources/mplpresource.2006-04-07.9278796794.