What Is the Statute of Limitations for Collecting a Debt in Ohio?

Ohio Bankruptcy Attorney

If you’ve fallen behind financially and are having trouble paying your bills, you may be wondering what is the statute of limitations for collecting a debt in Ohio?  Unfortunately, it is six years for most types of debt; however, 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 statute of limitations simply limits the amount of time during which a debt collector may take legal action to collect a debt. Statutes of limitation vary depending on the type of debt.  This means you likely need a different debt-relief strategy than delaying and waiting it out.

In these uncertain times, predicting future financial needs can be hard, and sometimes consumers take on more debt than they are ultimately able to handle.  Even hard-working, well-intentioned people can fall into this trap.  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, month-out, talking to a bankruptcy lawyer can help you feel like you’ve taken control.

Our bankruptcy attorneys at Fesenmyer Cousino Weinzimmer have many years of experience helping families just like yours.  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?

No, you can’t be sent to jail for not paying a debt in America, unless there’s fraud involved.  However, you can be sued by a creditor 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 get this far though, it is often better to be proactive and contact your own bankruptcy attorney to create a plan of action before a creditor takes you to court.  Don’t wait to be sued.

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 Ohio’s statute of limitations is six years, for most types of debt, trying to delay payment of your bills indefinitely is not a workable strategy.  The time limit is counted beginning the day a debt became overdue or the day you last made a payment, whichever happened most recently.

Additional Reading:  The Consequences of Medical Debt on Your Credit Score

Statute of Limitations for Collecting a Debt in Ohio Does Not Affect Bankruptcy Outcome

Regardless of the statute of limitations for collecting a 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:

  1. Medical Debt

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.

  1. Credit Card Debt

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.

  1. Student Loan Debt

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 as of now, bankruptcy does not discharge most student loan debt.

  1. Consumer Loans

Most personal and bank loans can be discharged through bankruptcy, though this can vary depending on whether you file 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 for collecting a debt in Ohio is six years, for most financial obligations, so waiting it out and hoping for the best is not the best approach.  To learn more about your legal options, talk to a bankruptcy attorney at Fesenmyer Cousino Weinzimmer today at 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati).

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