Statutes of limitations provide protection from old debts by prohibiting suit beyond a set period of time. Each state sets its own rules regarding how long a creditor has to sue before the statute of limitations has expired. Ohio has differing limitations based on the type of debt.
Credit Cards
Credits cards are classified as written, open accounts in Ohio and thus fall under ORC 2305.07. These accounts have a statute of limitations of six years.
Written Contract
Ohio sets a different statute of limitations for written contracts. ORC 2305.06 establishes the limitation period as 15 years from the time the cause accrued. The clock does not start running on the date the contract was signed, but on the date that the creditor could have sued the debtor.
Dishonored Check
When a debtor writes a bad check, the creditor must bring suit within three years after the check is returned. Like written contracts, the cause of action accrues when the check is dishonored, not when it is written.
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