Legal Question in Credit and Debt Law in Georgia

Re: Statue of Limitations on debts in Georgia

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The statute of for a written contract is 6 years from when it becomes due and payable and the six (6) year period runs from the date of last payment. (OCGA 9-3-24)

The statute for an open account is 4 years, (OCGA 9-3-25).

But, if the loan papers were signed under seal, the statute is 20 years, (OCGA 9-3-23) No instrument is considered under seal unless it�s stated in the body of the instrument.