How to Extend the Statute of Limitations on Credit Card Debt in New York by Making Payments

In New York, the statute of limitations on credit card debt is six years. If the creditor has been awarded a judgment against you, the statute of limitations increases to 20 years. The creditor can still attempt to collect a debt after the statute of limitations has passed, but it can no longer sue you over the debt. As a consumer, you can extend the statute of limitations on your account, also referred to as "re-aging" your debt. By re-aging your debt, you clear up delinquent accounts that appear on your credit report. This can help rebuild your credit score.

Instructions

1

Order a copy of your credit report to determine whether or not the statute of limitations has already expired. Look at the account on your credit report to find the date of last activity. If it has been less than six years since the date of last activity, the statute of limitations can be extended. If a judgment appears on your credit report, it must be less than 20 years since the judgment was issued.

2

Contact the credit card company directly if the account has not been placed with a collections agency. Advise the company representative that you would like to submit a payment toward your credit card balance. The payment can be of any amount, even $1 or less. It's not the amount of the payment that is important. Instead, it is the fact there is new activity on your account.

3

Telephone the collections agency if your account has been turned over to collections. Advice the agency representative that you would like to make a payment toward your balance. In many cases, the name and contact information for the collection agency will be listed on your credit report.