The aim of this work is to contribute to the ecological and phenomenological understanding of people with borderline personality disorder by analyzing the relation to the “limit situations”, a concept that was formulated one century ago by Karl Jaspers. This study makes it possible to go beyond the nosographic debate in which the pathological entity is often confined, by defining it as a disorder “situated” between neurosis and psychosis. The five limit-situations (which have been described by Gabriel Marcel in his introduction to Jaspers’ proposals) – namely, (1) historical situation, (2) love conflict, (3) suffering, (4) guilt, (5) and death – turn out to be crucial situations in which the limit-existence manifests itself in a specific way. In particular, we observe that the peculiarities of the experience characterizing the borderline individual’s limit situations rely on a temporality grounded on instantaneity and immediacy, and imply a specific relationship to others. Finally, the limit state seems to call into question this primordial tendency by suggesting that every man is bound to be part of time, to love, to feel guilty, to suffer and to flee this suffering, to die and to organize his life by considering such a condition of finitude.