Mississippi Statute of Limitations on Debt Collection

The statute of limitations is an established rule that sets a time limit within which a creditor is able to sue you for payment of a debt. The amount of time that a creditor has to sue you is different for each state and if the time that is allowed by your state has passed, a creditor is unable to sue you for the debt. In Mississippi:

• Contracts, both oral and written, and promissory notes: 3 years (MCA 75-3-118, 75-2-725, and 15-1-49)
• Deficiency claims and remaining balance on a foreclosed mortgage: 1 year (MCA 15-1-23)
• Enforcement of construction liens, claims against property via contractor: 1 year (MCA 85- 7-141)
• Open accounts and credit card agreements: 3 years (MCA 15-1-29 & MCA 15-1-31)
• Judgment liens on real estate, orders by law that allow a creditor to take possession of a debtor’s property after they have not met their agreed upon duties: 7 years (MCA 15-1-47).
  • They may be renewed by filing a lawsuit to renew the judgment before the 7^th years has passed

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