Statute of Limitations Chart by State

Statute of Limitations by State

Double-check your state’s current statutes of limitation for the
specific claim, which may be different than what you read here. Time
periods on various contracts can change according to state law.

Oral Contracts: You agree to pay money loaned to you by someone, but this contract or agreement is verbal. There is no written contract. It is a “handshake agreement.” It can certainly be legal, but tougher to prove in court.

Written Contract: You agree to pay on a loan under the terms written in a document, which you and your debtor have signed.

Promissory Note: You agree to pay on a loan via a written contract, just like the written contract. The big difference between a promissory note and a regular written contract is that the scheduled payments and interest on the loan also are detailed in the promissory note. A mortgage is an example of a promissory note.

Open-ended Accounts: These are revolving lines of credit with varying balances. The best example is a credit card account. Credit card is always an open account. This is established under the Truth-in-Lending Act.