What is the statute of limtitation on debt collections if there has been no type of activity by either party involved on this account for 13 years?

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What is the statute of limtitation on debt collections if there has been no type of activity by either party involved on this account for 13 years?

A notice has been served in magistrates court for collection by the person who made the loan. Is the person who received the loan covered by any statute of limtitations law since only a verbal contract and 1 payment 13 years ago was the last activity?

Asked on May 8, 2012 under Bankruptcy Law, South Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I believe that the statute of limitations, or time to initiate a lawsuit, in South Carolina on an oral (also often called verbal) contract is only three years. Therefore, if the default (or failure to pay) occured approximately 13 years ago, it should be much too late for anyone to enforce this debt. You should be able to get the suit dismissed by pleading the statute of limitations.


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