Alabama Demand for Payment of an Open Account by Creditor
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How to fill out Demand For Payment Of An Open Account By Creditor?
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FAQ
Three years. The statute of limitations for an open account is three years from the date of last item of the account, or from the time when, by contract or usage, the account is due. Ala. Code § 6-2-37 (1975).
If you owe state tax debt, the statute of limitation is 10 years. If you owe credit card or auto loan debt, the statute is 3-4 years. Medical debt and mortgage debt don't run out until 6 years later.
A creditor is a someone to whom you owe a debt. If someone owes you money, you are a creditor of that person. If you can't pay a debt when it's due, the creditor may try to collect the debt by sending you a demand for payment, or the creditor may assign the debt to a debt collection agency.
The length of time that debt collectors have to chase you down regarding debt depends on the type of debt it is: If you owe state tax debt, the statute of limitation is 10 years. If you owe credit card or auto loan debt, the statute is 3-4 years. Medical debt and mortgage debt don't run out until 6 years later.
You are not allowed to pay any debts of the Decedent unless a written claim is filed in Court. Creditors have six months from the date the Estate is opened to file a claim with the Court; however, if you fail to timely give the ?notice? discussed in paragraph 4 above, this time may be extended.
If the married couple or joint owners of a property do not have a tenancy by the entireties title, any lien can attach to the person's interest in the property. Whether it's judgment or confessed judgment, the lien will attach to the homeowner's interest, making the lienor a co-owner of the property.
If you do not take steps to file for lien avoidance, the creditor can still take the property or force its sale by the Sheriff. If the property with a judgment lien is a house or car and the creditor does nothing, the lien remains on the property until it expires.
In Alabama, money judgements last up to 20 years (Ala. Code § 6-9-190). But judgments are generally only enforceable for 10 years (Ala. Code § 6-9-191), and then they're renewed for another 10 years if the judgment debtor still hasn't paid the debt.
