Statute of Limitations
Candlefocus EditorMore serious crimes, such as murder, typically have no upper limit for legal proceedings, as evidenced by cases that occur decades after a crime has been committed. The international community has also established international law on crimes against humanity, war crimes, and genocide with no statute of limitations.
Statutes of limitations can also apply to consumer debt. Unpaid debts can take on a time-barred status beyond the period set by the statute of limitations, which is typically five to six years depending upon the state. In certain cases, creditors have up to fifteen years to collect on a debt, such as California, which imposes a fifteen-year period for the collection of credit card debt. Until the debt is paid, however, it may still exist on one’s credit report.
Proponents of statutes of limitations often cite the importance of a fair and just legal system, as memories can fade over time, and a cloud can be unjustly cast upon an innocent person if proceedings are initiated many years after the offense occurred.
In conclusion, the statute of limitations is designed to protect parties in a dispute from long-standing disputes, as memories can grow foggy and evidence may be lost, leading to inadequate representation over time. In more serious matters, the statute of limitations is either non-existent or lengthy, allowing for fair treatment of the parties involved. Additionally, statutes of limitations can help protect consumers from the accumulation of debt that has been outstanding for too long.