Skip to content
 

Statute of Limitations for Collecting on Bad Checks

Answered by: 
John Burnett

Question: 
How long is the statute of limitations for collecting on passed bad checks that we've gotten stuck holding onto? (I'm thinking of sending to a collection agency; they don't charge unless they collect on check). ALSO, what about an unsecured personal loan? How long would we have on that? Six years? Six years from the date of the last payment? We've just charged it off and would like to send it over to the same collection agency. (Probably all are less than $3000.00).
Answer: 

Sorry, but the statutes of limitations on bad checks and promissory notes are creatures of state law. I suggest you have a short discussion with bank counsel to sort these questions out. Alternatively, you could post an inquiry in your state's forum in BOL Bankers’ Threads.

First published on BankersOnline.com 4/18/11

First published on 04/18/2011

Filed under: 
Security
Filed under security as: 
Checks
IT

Report a problem with this page

Search Topics