Four Years

• Any oral agreement dealing with payment of funds holds a four year statute of limitation regarding re-payment. Any open account, such as a credit card, holds the same time limit for collection.
  
  

Five Years

• There is a five year statute of limitations for a contract or written instrument for a mortgage, including foreclosure. Other items with a five year statute of limitations include any written contracts, such as a car loan and promissory notes.
  
  

Judgments

• Judgments placed on an individual by the courts carry a 20 year statute of limitations. Judgments are generally issued when a defendant fails to pay a debt and is taken to court by the creditor.
  
  

No Limitations

• Some debts do not have any statute of limitations in the state of Florida. These debts include federal student loans, legal fines, child support and taxes. Taxes, however, do have a 10 year statute of limitations placed by the federal government but can be suspended for proper filing of forms.