New Consumer Credit Debt Statute of Limitations

New Consumer Credit Debt Statute of Limitations! The New York State Consumer Credit Fairness Act mandates that starting April 7, 2022, creditors cannot sue or make a threat to sue consumers (implicitly or explicitly) on debts that are older than three years, down from six years in most cases. Moreover, any payment a consumer makes after that three-year period cannot be used to revive the time-barred debt.

Nassau Suffolk Law Services provides legal representation and advice to eligible Nassau and Suffolk residents experiencing consumer debt problems (like student loans), especially in the matters of medical and credit card debt. Suffolk residents can call 631-232-2400. Nassau residents can call 516-292-8100.