New York 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.

New York Civil Practice Law and Rules: Chapter Eight of the Consolidated Laws, Article 2 – Limitations of Time:

• Actions to be commenced within ten years. (a) Possession necessary to recover real property. (b) Annulment of letters patent. (c) To redeem from a mortgage.
• Actions to be commenced within six years: where not otherwise provided for; on contract; on sealed instrument; on bond or note, and mortgage upon real property; by state based on misappropriation of public property; based on mistake; by corporation against director, officer or stockholder; based on fraud.
• 213-a. Actions to be commenced within four years; residential rent overcharge.
• Actions to be commenced within three years: for non- payment of money collected on execution; for penalty created by statute; to recover chattel; for injury to property; for personal injury; for malpractice other than medical or dental malpractice; to annul a marriage on the ground of fraud.
• S 203. Method of computing periods of limitation generally. (a) Accrual of cause of action and interposition of claim. The time within which an action must be commenced, except as otherwise expressly prescribed, shall be computed from the time the cause of action accrued to the time the claim is interposed.

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