Florida Statute of Limitations on Bill Collection

Florida limits the time to collect on a credit card to only four years.

Florida statutes of limitations give bill collectors varying amounts of time to pursue the collection of certain types of debts.

Four Years

Any oral agreement dealing with payment of funds holds a four year statute of limitation regarding re-payment. Any open account, such as a credit card, holds the same time limit for collection.

Five Years

There is a five year statute of limitations for a contract or written instrument for a mortgage, including foreclosure. Other items with a five year statute of limitations include any written contracts, such as a car loan and promissory notes.

Judgments

Judgments placed on an individual by the courts carry a 20 year statute of limitations. Judgments are generally issued when a defendant fails to pay a debt and is taken to court by the creditor.

No Limitations

Some debts do not have any statute of limitations in the state of Florida. These debts include federal student loans, legal fines, child support and taxes. Taxes, however, do have a 10 year statute of limitations placed by the federal government but can be suspended for proper filing of forms.

References

• Fair Debt Colleting: Statute of Limitations by State
• Fair Debt Collecting: Statute of Limitations Explained
• Consumer Fraud Reporting: Statute of Limitations by State