What is the statute of limitations on credit card debt collection?

The statute of limitations in Michigan for the collection of credit card debts (referred to as “open accounts”) is six years under MCL §600.5807. However do not assume that because six years has passed since you took out the debt that you are free and clear. The statute of limitations can be restarted if the debtor makes a payment or otherwise acknowledges the debt. A creditor can also get a default Judgment after the statute of limitations has run if you fail to raise a statute of limitations defense. If a creditor obtains a judgment that judgment is good for 10 years and can be renewed. If you are being pursued by a creditor for collection of debt or have a judgment against you, you should seek the advice of the experienced bankruptcy attorneys at John A. Steinberger & associates, PC to discuss your options.

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