Iowa  |  Credit and Debt Law

Legal Question

Asked on: 9/26/13, 7:57 pm

I got a letter from a collection agency a couple of days ago regarding a bank account and 2 medical bills. The one on the bank account is from 1989 and the 2 mediacal bills are from 1991. This letter I just received was the first knowledge of these 3 things. Is there a limit on how long a collection agency has to act on a past due account.

1 Answer


Answered on: 9/28/13, 9:17 am by Robert Luedeman

Yes. The statute of limitations on written contracts is ten years and on oral agreements five years. Open accounts are also five years since the date of the last payment. However, payments toll the statute of limitations.

I would inform them that any attempt to collect on these accounts and any punitive action taken if you do not pay is unlawful. Better yet, get your attorney to send them a nastygram.


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