George Simons
April 06, 2021
Summary: Worried that you'll never be able to pay that old debt? You might not have to. Learn all you need to know about the statute of limitations in Oklahoma and find out if you don't have to pay those old debts.
If you are receiving frequent phone calls and letters from creditors seeking repayment for an outstanding debt, it is important to determine the age of the alleged debt. Why? Because there are laws that provide a finite period of time in which a debt collection lawsuit can be filed in Oklahoma. The time period is known as the “statute of limitations.”
The statute of limitations is the time period in which a creditor, or debt collection agency, can file a lawsuit against you to try and recover an outstanding debt. If the statute of limitations in Oklahoma has expired, both creditors and debt collection agencies are prohibited from filing suit against you concerning the outstanding debt.
The statute of limitations will vary both by the type of debt and the state in which you reside. For example, the statute of limitations for a debt collection lawsuit in Florida is different from a debt collection lawsuit filed in Oklahoma.
In certain circumstances, the time period for taking legal action will be dictated by the specific language in a contractual agreement. For example, many credit card agreements feature a “choice of law” provision that designates a particular state law that will apply if there is a dispute.
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Oklahoma Statute of Limitations |
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Debt Type |
Deadline in Years |
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Open Account |
5 |
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Written |
5 |
|
Oral |
3 |
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Source: Findlaw |
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In Oklahoma, the applicable statute of limitations will be impacted by the type of debt at issue. Here is an overview of Oklahoma's statute of limitations:
A common question asked about the statute of limitations is when it commences. Well, much like the statute of limitations itself, the date of commencement will vary based upon the state in which you reside. In some states, the commencement of the statute of limitations is when you made your last payment. In other states, the limitations period will commence on the date of your first missed payment.
Creditors and debt collection agencies can file a lawsuit to recover the debt before the expiration of the statute of limitations. However, when the limitations period expires, creditors are unable to take legal action against you to try and collect on a delinquent debt.
It is important to understand that debt collectors are not legally obligated to tell you that the statute of limitations expired. Some debt collectors who know that the statute of limitations period on the debt expired may be particularly aggressive to try and convince you to make a payment. Why? Because the debt collector knows that if you make a new payment toward the old debt, it will effectively trigger a restart on the statute of limitations period.
In Oklahoma, when there is “new activity” on a time-barred debt (e.g., making a full or partial payment) the statute of limitations can be restarted which provides years of additional time for a creditor or debt collection agency to take legal action against you.
Don't let debt collectors intimidate you. File a response with SoloSuit and win in court.
Unfortunately, many debt collectors will use every trick in the book to try and recover on a debt, even if that debt is extremely old and barred by the statute of limitations in Oklahoma. Here is an overview of some of the common tricks and tactics used by debt collectors when pursuing payment on an old debt:
If you want to avoid the threat of being sued for a time-barred debt in Oklahoma, proactively ask if the debt Is time-barred based on the statute of limitations. Debt collectors are legally obligated, under the Fair Debt Collection Practices Act (FDCPA), to respond honestly when asked whether the outstanding debt is time-barred. If the debt collector confirms that the statute of limitations has expired on the debt, do not acknowledge the debt and do not agree to pay any of it. The FDCPA is a federal law enacted by Congress that was intended to protect individuals from being subjected to harassing debt collection attempts. In addition to the legal obligation to tell you whether the debt is time-barred due to the statute of limitations, the FDCPA prohibits debt collectors from contacting you before 8:00 am and after 9:00 pm, contacting your employer, using threatening language, etc.
If you are unsure whether the debt is time-barred based upon the statute of limitations, ask for confirmation on when the last payment was made. The debt collector should be able to tell you the date of the last payment. On the other hand, if the debt collector does not have this information, it may be an indication that the collection agency is trying to collect on debt with flimsy or paltry evidence.
You also have the right to request a debt validation letter from the creditor. You can send a written request for debt validation within 30 days of being contacted by a debt collector. A debt validation letter will serve to confirm the specific information about the debt collection agency (or creditor), the debt purportedly owed, and your rights under the FDCPA. The creditor or debt collection agency is legally obligated to stop all collection efforts until it responds to the debt validation letter.
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Once a debt has passed the statute of limitations, a debt collector or creditor is barred from suing you to try and recover the debt. However, it is important to note that an old, unpaid debt will remain on your credit report. Specifically, old debts that have not been paid will generally stay on your credit report for seven years from the date of first delinquency. As a result, the old debt can still negatively impact your credit score and make it more difficult to qualify for loans and credit in the future.
In Oklahoma, a creditor or debt collection agency is afforded a finite period of time to take legal action to try and recover a debt. This finite period of time is known as the statute of limitations. In Oklahoma, for most debts, a creditor is afforded five years to take legal action on a debt. After the statute of limitations has expired, a creditor or debt collector can no longer sue you for the debt.
SoloSuit makes it easy to respond to a debt collection lawsuit.
How it works: SoloSuit is a step-by-step web-app that asks you all the necessary questions to complete your answer. Upon completion, you can either print the completed forms and mail in the hard copies to the courts or you can pay SoloSuit to file it for you and to have an attorney review the document.
"First time getting sued by a debt collector and I was searching all over YouTube and ran across SoloSuit, so I decided to buy their services with their attorney reviewed documentation which cost extra but it was well worth it! SoloSuit sent the documentation to the parties and to the court which saved me time from having to go to court and in a few weeks the case got dismissed!" – James
>>Read the NPR story on SoloSuit: A Student Solution To Give Utah Debtors A Fighting Chance
Here's a list of guides for other states.
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