PDA

View Full Version : Statute of limitation


queen jewel
Jan 2, 2007, 11:49 AM
Is there a statue of limitation on bankruptcy in Maryland? If so what is the time frame?

ScottGem
Jan 2, 2007, 12:22 PM
Can you explain this further? Do you want to know how long before you can file a bankruptcy or how long does it stay on your record or what?

mr.yet
Jan 2, 2007, 01:01 PM
Maryland Statutes of Limitation

Civil action: 3 years from the date it accrues, unless:

Breach of contract under any sale of goods and services under the UCC: 4 years after the cause of action, even if the aggrieved party is unaware of the breach.

Promissory notes or instruments under seal, bonds, judgments, recognizance, contracts under seal, or other specialties: 12 years.

Financing statement: 12 years, unless a continuation statement is filed by a secured party six (6) months prior to end of twelve (12) year period. (Maryland, Commercial Law article Sec. 2-725; Courts & Judicial Proceedings Article Sec. 5-101-02, 9-403).

NOTE: The 3 year statute of limitations begins again if creditors can document that a debtor has reaffirmed a debt by a good faith basis by a written agreement, orally, or by payment.

As for bankruptcy sol nothing seem to be listed.