Statute of Limitations on Debt

Depends. What kind of debt and who is the creditor?

In Great Britain, it is six years after the debt was last acknowledged in writing by the debtor. You don't say where you are, so I guess that means you're American, (everyone's American, right?) and even there the different states have different laws. The average is about 7 years, many have from 3 to 6 years, but some are much longer. Louisiana is 10 and Ohio's limit is 15 years for some debts.

Complete list of states and debt statute of limitation periods here:

http://credit.about.com/od/statuteoflimitations/a/entirestatesol.htm

If you're referring to tax debt - never ever!! The IRS will haunt you forever!

contrex-
Thank you.

It is strange that the debt still exists but is not enforceable. It would seem to not truly be debt if it is not enforceable.

It is not clear when the time period is calculated from. The most recent statement or debt collection attempt sent by the creditor?

A debt is a debt. If you owe money, that is a debt. The law in most countries sets a limit on how long a creditor can pursue a debtor. You still have not said in which jurisdiction the debt was contracted. In my country the time limit is calculated from the last occasion the debtor acknowledged the debt in writing. This can be a simple thing like replying to a letter. For more information consult a local lawyer or debt counsellor in your own country, state, province or republic.

contrex-
Thank you. The United States.

Which state? (There are 50 and they don't all have the same time limitation)

The consumer is in New York State. The creditors may be in several States (e.g., South Dakota, Delaware).

Check the statute of limitation in your province or state, some debts have a certain time limit, after which the debt is no longer collectible.