A statute of limitations is the limited period of time creditors or debt collectors have to file a lawsuit to recover a debt. Most statutes of limitations fall in the three-to-six year range, although in some jurisdictions they may extend for longer depending on the type of debt. They may vary by: State laws.

How do you know if something is statute barred?

You can do this by checking your credit report. Any outstanding debt will be referenced there. You can also check your bank statements to confirm the last time you made a payment toward the debt. If you're certain that the debt is now statute barred you are entitled to take no further action.

What is a barred statute?

used to describe a legal action that cannot be brought to court because too much time has passed: The judge dismissed the claim on the ground that it was statute barred.