Statute of limitations is a law that puts expiration dates on the time it takes for a bill collector to collect a debt. Every law, under which you can sue someone, is subject to a statute of limitations. In the state of Florida, the statute of limitations to collect a contract in writing is five years. That’s five years from the date of the breach of the contract. When it comes to credit cards, it’s 30 days from your last payment, or the date that the bill collector or bank expected a payment and didn’t get the payment. That’s the date of the breach.
After that time, the bill collector or bank has the right to sue you until five years have passed. After those five years have passed, there is no action that that bill collector can take in the courts of the state of Florida to enforce that contract. When it comes to contracts that are not “evidenced by an instrument in writing”, the statute of limitations is only four years long. If a bill collector doesn’t have the contract, they can’t collect a debt from you if it’s more than four years from your last payment.