If you’ve fallen behind financially and are having trouble paying your bills, you may be wondering about your options. The statute of limitations for collection of debt in Ohio is six years. This time frame applies to the majority of situations and to most types of debt. Understand, however, that debt does not expire or disappear until you pay it. If a debt is valid, you still owe it until you pay it off, no matter how much time passes. The Ohio statute of limitations on debt simply limits the amount of time during which a debt collector may take legal action to collect a debt. The Ohio debt collection laws vary, depending on the type of debt. Ultimately, this means you likely need a well-crafted debt-relief strategy, rather than waiting and hoping for the best.
In these uncertain times, predicting future financial needs can be hard. Sometimes consumers take on more debt than they are ultimately able to handle. Even hard-working, well-intentioned people can fall into this trap, leaving them subject to Ohio debt collection laws. If you are behind and are unable to pay your monthly bills, it may be time to look at your legal options. Bankruptcy isn’t for everybody, but it does offer some consumers a fresh start. Rather than continuing to struggle month in and month out, talking to our bankruptcy attorneys at Fesenmyer Cousino Weinzimmer can help you feel like you’ve taken control.
We have many years of experience in helping families just like yours figure out the Ohio statute of limitations on debt. We would be glad to answer your questions and discuss your legal options. For a free initial consultation about your situation, call an affordable bankruptcy attorney at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati). Tomorrow can bring a brighter future!
Can I Go to Jail for Not Paying a Debt and Violating the Ohio Debt Collection Laws?
No, you can’t be sent to jail for not paying a debt in America, unless there’s fraud involved. However, a creditor can sue you for non-payment of a debt. In Ohio, if you have been sued, you have 28 days to answer or respond to a court complaint against you by creditors. Rather than letting things go this far though, it is better to be proactive and to contact your own bankruptcy attorney to create a plan of action before a creditor takes you to court.
Chapter 7 or Chapter 13 bankruptcy offers hundreds of consumers a fresh start every year, and it can do the same thing for you. The process is straightforward, and Fesenmyer Cousino Weinzimmer offers very affordable legal bankruptcy services.
Because the statute of limitations on debt in Ohio is six years, trying to delay payment of your bills indefinitely is not a workable strategy. The time limit begins the day a debt became overdue or the day you last made a payment, whichever happened more recently.
The Statute of Limitations on Debt in Ohio Does Not Affect a Bankruptcy Outcome
Beyond the statute of limitations on debt in Ohio, the types of debts that can – and cannot – be discharged in bankruptcy remain the same. Many types of consumer debt can be discharged, or eliminated, through bankruptcy. But certain debts cannot. Here are some of the most burdensome debts that many Americans struggle with and the potential outcomes.
What Is the Statute of Limitations on Medical Debt in Ohio?
The statute of limitations on medical debt in Ohio is six years. It falls under the guidelines from Ohio Revised Code section 2305.07, which deals with debt where there is no formal contract in writing. This means that once you miss your first scheduled payment, the medical provider has up to six years to bring a lawsuit against you regarding the debt. If the medical provider fails to start the proceedings within six years, the debt does not go away, but the provider can no longer bring a lawsuit.
Even among thrifty families on a firm financial footing, an unexpected illness or injury can cause medical and hospital bills to pile up fast. Overwhelming medical debt is one of the biggest reasons consumers make a decision to pursue bankruptcy. Most medical debt can be discharged through bankruptcy.
What Is the Statute of Limitations for Collections on Credit Card Debt in Ohio?
The statute of limitations for collections of debt from credit cards is six years. The credit card company loses its ability to bring a lawsuit against you after this six-year period comes to an end.
With high interest rates that compound frequently, credit card debt can skyrocket before you know it. The average American credit card holder has four cards, and the average credit card debt among U.S. households is about $8,400. Most credit card debt can be discharged through bankruptcy. However, do not run up debt or make last-minute purchases on your cards within a few months of filing bankruptcy.
What Is the Statute of Limitations on Debt in Ohio for Student Loans?
Student loan debt has a six-year statute of limitations in Ohio. Recently enacted Senate Bill 13 in Ohio created the six-year statute of limitations regarding many types of common consumer debt, including student loans.
Student loan debt in America is staggering, but this debt in most cases cannot be discharged through bankruptcy. Student loan debt is one of the few types of debt that remains after bankruptcy is completed, and you will still be responsible for these payments. There is a mounting nationwide outcry for a long-term solution to heavy student loan debt, but at this point, bankruptcy does not discharge most student loan debt.
What Is the Ohio Statute of Limitations on Debt for Consumer Loans?
With consumer loans in Ohio, lenders have up to six years to start a lawsuit under the statute of limitations for collections. This means the lender has up to six years to begin a lawsuit against you regarding the default on the debt from the time you missed the first payment. Most personal and bank loans can be discharged through bankruptcy, though this can vary depending on whether you file under Chapter 7 or Chapter 13. An experienced bankruptcy attorney can help you sort through your various consumer loans and offer guidance.
Contact an Affordable Ohio Bankruptcy Lawyer Today
If you’re at a place in life when you’re tired of struggling under seemingly endless debt, it may be time to talk to an affordable and skilled bankruptcy attorney. The statute of limitations on debt in Ohio is six years, so waiting it out and hoping for the best is not the best approach. There are a few types of debt where the time frame could be different, however. To learn more about your legal options for this complex situation, talk to a bankruptcy attorney at Fesenmyer Cousino Weinzimmer today at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati).