Am I still responsible for a debt over10 years old?

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Am I still responsible for a debt over10 years old?

Asked on September 28, 2010 under Bankruptcy Law, New York

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

The time frame in which a lawsuit for collection of a debt can be brought in NY is 6 years. After that time a creditor cannot sue, although technically you still owe the debt. However, as a practical matter, there is no viable way for a debtor to collect.  You should note that, if you made a partial payment, promised to re-pay, or even acknowledged that you owed the debt, the statute starts running again from the date of such payment/acknowledgement.  Additionally, if a judgement was obtained prior to the statute running out, it can be enforced for up to 20 years, and at the end of that time it an be renewed.


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