How New York’s Statutes of Limitations on Debt Protect You
In New York, the statute of limitations on debt is six years. This means that if you owe money to someone and they do not sue you within six years, they can no longer sue you for that debt. The statute of limitations begins when the debt is incurred, which is usually when you sign a contract or agreement to pay the debt.
There are some exceptions to the statute of limitations, such as if you leave the state of New York or if you file for bankruptcy. If either of these things happen, the statute of limitations may be extended. However, in most cases, the six-year statute of limitations will protect you from being sued for an old debt.
If you are being sued for a debt that is more than six years old, you should bring up the statute of limitations as a defense against the lawsuit.
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