Statute of limitations on debt in colorado is a law that sets a time limit on how long a creditor can sue you to collect a debt. In Colorado, the statute of limitations for most types of debt is six years. This means that if a creditor does not file a lawsuit within six years of the date the debt became due, they will be barred from collecting the debt.
Table 1: Statute of Limitations for Common Types of Debt in Colorado
Debt Type | Statute of Limitations |
---|---|
Written contracts | 6 years |
Oral contracts | 3 years |
Judgments | 20 years |
Credit card debt | 6 years |
Medical debt | 6 years |
Table 2: Exceptions to the Statute of Limitations
Exception | Time Limit |
---|---|
Fraudulent concealment of the debt | No time limit |
Debtor makes a partial payment | Restarts the statute of limitations |
Debtor acknowledges the debt in writing | Restarts the statute of limitations |
Success Stories
There are a few things that you can do to protect yourself from debt collectors:
Understanding the statute of limitations on debt in colorado can help you protect yourself from debt collectors and avoid getting into financial trouble.
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