Collection statute of limitations

I received my first notification of a debt 3 years after the last transaction on an account for an Illinois institution. After repeatedly contacting this institution, I finally received evidence of a debt 7.5 years later. This has not been turned over to a collection agengy or any 3rd party. Is there any kind of statute of limitations on collections for the state of Illinois?

Yes, there is. The faq section of my website carries a link to the statute of limitations for all states. Clicking on that link will let you look it up for your state.

There is something that you need to be aware of when dealing with SOL and that is that it is only valid if you are sued and you go to court and raise it as an active defense. If you do not actually make an appearance and raise the objection then they can get a judgment against you regardless of the SOL.

Very few judgments are any problem at all however since most of them are null and void upon their face from the git-go because of the huge number of errors that are usually found in judgments. About 98% of them are easily voidable so there is little reason to be frightened of a judgment.

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