Q:

What is the statute of limitations in Florida on collecting past due accounts?

A:

Quick Answer

The statute of limitations for collecting debt in Florida is four years for oral contracts or open-ended accounts. For written contracts or promissory notes, the statute of limitations is five years.

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Full Answer

Under a statute of limitations, creditors and debt collectors have a certain amount of time in which they can sue a former customer who has not paid a debt. Even after the statute of limitations is over, creditors can still make attempts to collect on an unpaid debt. Once the window for a lawsuit has expired, creditors can still go to court. At that point, the laws and judicial system of the state of Florida determine the outcome of the dispute.

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