Is there a statute of limitations on collecting old debts or enforcing judgments?
Yes, and every state has a different time frame. Past due accounts receivable are treated like breach of contract cases, which have a 4-year statute of limitations in Texas. We accept accounts up to the age of the statute of limitations, and we will be happy to review your accounts before placement to determine the applicable time frame. All states limit enforcement of judgments to within a certain number of years from the date of judgment in Texas, a creditor has 10 years to enforce its judgment. However, judgments can be renewed periodically to extend the amount of time the judgment can be enforced.
