Debt Statute of Limitations » Maryland Debt Statute of Limitations

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Maryland Debt Statute of Limitations

Maryland Statute of Limitations on Debt like credit cards is 3 years. Credit cards are considered open-end contracts. After the statute of limitations has lapsed, the debt becomes uncollectible. You can be pursued for the debt but not made to pay it.

The statute of limitations on debt in Maryland limits creditors and debt collectors from collecting a debt after a specific time period.

Once the statute has expired the debt becomes legally uncollectable. Creditors and debt collectors may still pursue payment but you cannot be legally sued for the debt.

However, making a payment, acknowledging you owe the debt or making a written promise to pay the debt may renew the statute of limitations. Be careful when speaking with creditors and debt collectors about old debt because they’re aware you have no legal obligation to pay debt that has passed the statute of limitations.

Maryland Statute of Limitations on Debt

*Disclaimer: The accuracy of this information is not guaranteed, check your State’s Statutes directly to ensure up-to-date information.

Oral Contract: 3 years

Written Contract: 3 years

Promissory Note: 6 years

Open-Ended Accounts (Example: Credit Cards): 3 years

Collection Agency Bond Required: Yes

Collection Agency License Required: Yes

What happens in Maryland when you have unpaid debt

If you can’t afford to pay a consumer debt in Maryland, the law limits what a creditor or debt collector can do to collect the debt. A creditor or debt collector can take you to court and get a judgment against you.

Once a creditor has a judgment against you, it may be able to garnish your wages or ask the court for the money in your bank account. However, most federal benefits cannot be garnished to pay debt.

There is no such thing as a “debtors’ prison” so not paying your debt will not lead to imprisonment ⏤ unless the debt is child support or restitution ordered after a criminal conviction.

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