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How Long Does a Credit Card Company Have to Come After You for Money You Owe Them?

Question: How long does a credit card company have to come after you for money you owe to them? Is there a limit on the time that a credit card company can try to collect a debt?

Answer: In Illinois, the statute of limitations on a bank credit card is 5 years, measured from the later of default or last payment. The period applies regardless of whether the party trying to collect is the credit card company or a bad debt buyer.