A credit does not last forever: what you need to know about the statute of limitations on credits
Every debt has a limited duration. The law establishes limitation periods beyond which the creditor can no longer take action to obtain what is owed to them. Knowing these limits is essential to avoid permanently losing your rights.
The most common limitation periods
In general, the standard limitation period for claims is 10 years, but there are numerous exceptions:
- 5 years for bills, rental fees, ongoing services and periodic relationships;
- 3 years for professional fees (such as lawyers’, consultants’ and technicians’ fees);
- 2 years in certain specific cases relating to domestic utilities and consumer supplies.
These terms commence from the moment the credit becomes “due”, i.e. from the day on which the debtor should have made the payment.
How to interrupt the statute of limitations
The law allows the limitation period to be interrupted, thereby restarting the period from the beginning.
This is achieved, for example, through:
- Registered letters or payment notices sent to the debtor;
- Written acknowledgements of debt by the debtor himself;
- Legal documents such as injunctions or attachments.
Timely interruption of the limitation period is essential to maintain the right to credit and prevent time from rendering it definitively unenforceable.
Acting in time: a matter of protection
Leaving receivables ‘stuck’ for too long can result in their permanent loss.
This is why it is important to check the limitation periods and act quickly, relying on professionals who are able to manage the recovery procedures correctly.
Studio Benigni – Professionals in debt collection
Studio Benigni assists companies and professionals in credit management and recovery, even in complex situations or those close to the statute of limitations.
Thanks to a targeted legal approach and constant attention to regulatory details, the firm ensures timely interventions and personalised strategies to protect its clients’ rights.