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The statute of limitations help protect consumers against collection agencies and other people from filing a lawsuit against you many years in the future. The statute of limitations starts approximately the last time you made a payment on your past due account, oral contract, written contract, promissory note or open-ended accounts. Credit card accounts are usually considered open-ended accounts. The statute of limitations vary by state and you can find many websites that post the actual years for each state on the Internet; just search using the keyword "statute of limitations"; it's also best to verify the information with the state statutes.

If the statue of limitations has expired on your past due account, then you have an absolute defense and the court must dismiss your case; be forewarned, that any payment can reset the statute of limitations so it's very important not to make a payment on any accounts that you plan to assert the statute of limitations as your defense.

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