Indiana Statute of Limitations on Debt Collection

A statute of limitation is a law that is different for each state and this law establishes a set time limit from when a breach of contact happens to when a lawsuit can be filed to force the debt to be paid. In Indiana:

• Oral contracts, written contracts for payment of money, promissory notes: 6 years
• Written contracts not related to payment of money: 10 years

In Indiana, the statute of limitation can be reset with a written acknowledgement, a voluntary payment or a promise to make a payment of the debt. If the debt collector or creditor obtains a judgment, they are able to extend the time in which they attempt to collect the debt. Once a judgement has been made against the debt, the judgment is collectible for up to 10 years.

If you want to get any more information or if you have questions about the Statute of Limitations in Indiana, contact The Consumer Advocacy Center at 312-782-5808.