What is the statute of llimitations in Nj for a debt that might be 20 years old?
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What is the statute of llimitations in Nj for a debt that might be 20 years old?
Asked on June 15, 2009 under Business Law, New Jersey
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
A contract claim in New Jersey is stale, and cannot be sued upon, after 6 years.
If the debt is one for the sale of goods under the Uniform Commercial Code -- and this includes a car -- the limitation is 4 years.
A business debt that's in the area of 20 years old? Forget about it. It isn't even legal for someone to put that onto your credit report.
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