The Law Office of Kim Covington

Call For A Free 1-Hour Consultation
541-393-2790 | 800-673-1891

Please Ask For Kim Directly When Scheduling An Appointment

What is the debt statute of limitations in Oregon?

Previous posts in this blog have discussed what may happen if you fail to pay your credit card debt. If you simply ignore the debt, it will not go away anytime soon, and is likely to be taken to collections. Your credit, in turn, will suffer. You might have heard advice from well-meaning family and friends that if you can manage to put off the debt on a credit card long enough, the debt will pass the statute of limitations and you will no longer owe the creditor. This is technically true, but you will need to understand how the statute of limitations applies to debtors in Oregon, as well as the potential consequences of putting off debt for so long.

According to OregonLive, the statute of limitations for credit card debt in Oregon is six years. If you make it past the six-year mark without being taken to court for outstanding credit card bills, you should be free and clear. However, passing the statute of limitations will not clear your credit report. The debt will show up as unpaid for several years after the statute of limitations has passed.

Also, according to a 2012 ruling by the Oregon Court of Appeals, it may not work to try to take advantage of a shorter debt statute of limitations from another state. This period is only three years in some states. A few Oregon residents who said they should not owe to banks from these states after the three years had passed were found to be responsible for their credit card debt, since they were still within the six-year limit in Oregon.

If you have credit card bills that you are unable to pay, it would be more reasonable to attempt to reach a payment solution with your creditors, instead of trying to pass the statute of limitations. Ignoring your debt may seem to work for a while, but creditors and collection agencies may be using the time to prepare a lawsuit against you. The information in this blog should not replace the advice of a bankruptcy lawyer.

No Comments

Leave a comment
Comment Information
email us for a response

Learn More About Your Fresh Financial Start

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 19 years.

The Law Office of Kim Covington

The Law Office of Kim Covington
1445 Willamette Street, Suite 9
Eugene, OR 97401

Toll Free: 800-673-1891
Phone: 541-393-2790
Fax: 541-344-6466
Eugene Law Office Map

P: 541-393-2790

T: 800-673-1891

F: 541-344-6466