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Has the Statute of Limitations run out on my HELOC that was originated in NC?

Sarasota, FL |

The house (primary residence) that the HELOC was secured by was foreclosed on in April of 2010.

My last payment to the HELOC was in August of 2009. It is my understanding that NC has a 3 year SOL for this type of debt. I currently reside in FL, which defers to the state laws of where the debt was originated in determining SOL. Are my assumptions correct, or do I need to seek the advice of a bankruptcy lawyer to protect myself from a possible lawsuit?

Attorney Answers 2


  1. I believe you are proceeding under a false presumption. I know of no state that simply refuses to impose its own SOL on a lawsuit originating in that state just because the contract or debt orignated in another state. So, FL refusing to use its own SOL on a lawsuit filed in a FL court is not going to happen, as far as I know. I'd consult with local counsel.

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  2. If the HELOC is attached to a property, the holder of the note/mortgage can foreclose on the property at any time. If you are concerned about being sued in court over a breach of contract, there may or may not be a statute of limitations protection. I would consult a competent local bankruptcy attorney if I were you.

    The above is for informational purposes only. The offering of this information in no way presumes to create an attorney/client relationship and should in no way be construed as actual legal advice.

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