Tuesday, October 21, 2014

Is there a statue of limitation on a debt in NC state and if so what is it

Question

Is there a statue of limitation on a debt in NC state and if so what is it



Answer

Depends. If the debt is from a contract, there is a 3 year SOL from the date it was due. If the contract was signed under "SEAL" then there is a 10 year SOL. If the debt is due to negligence or wilful conduct (say, malpractice, wrongful death, etc) the SOL will very. In general, MOST debts have a 3 year SOL, but it would depend on the particulars of your situation.



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