The statute of limitations sets the time in which You must file Your lawsuit, or it will be forever barred. If You file after the statute of limitations expires, it is virtually certain Your case will be thrown out and be forever barred from being re-filed. It is incredibly important to know what the Statute of Limitations is in Your case because Defense attorneys routinely look to throw out cases based on expired statutes of limitation. It ends the case for them quickly and cheaply.
An analysis of Your statute of Limitations is one of the very first things You should have Your lawyer do. It is of extreme importance. Determining when the statute of limitations expires.
In Georgia, all actions upon simple contracts in writing shall be brought within six years after the same become due and payable. O.C.G.A. § 9-3-24.
Additionally, a creditor can bring an action against a debtor to collect on a foreign judgment (meaning a judgment obtained outside the state of Georgia) within five years of that judgment being obtained. O.C.G.A. § 9-3-20.
All actions upon open account, or for the breach of any contract, not under the hand of the party sought to be charged, or upon any implied promise or undertaking shall be brought within four years after the right of action accrues. O.C.G.A. § 9-3-25.
Oral contracts, not barred by the statute of frauds, have a 4 year statute of limitations.
Atlanta Lawyer Group encourages you to contact us immediately, rather than allowing the statute of limitations to wind down. A quick response often increases your chances of recovery, and allows us to contact the debtor before we commence actions in a court of law. If an attorney takes a case too close to the applicable limitations, he or she may be forced to file Your case in order to preserve the statute of limitations without really knowing whether Your case is any good or not. It would be a highly unusual attorney who likes or wants to be put in this position (having to file a case before he or she knows whether you have a good case).