For some people being hounded or even sued for credit card debt, whether or not a credit card is considered to be a written or open account by state statutes is crucial. Why? Because of the statute of limitations on the debt. If a debt is past the statutue of limitations, a consumer can not [...]
Entries Tagged as 'Statute of limitations'
Credit Cards – Open Ended or Written Accounts?
January 22nd, 2009 · 5 Comments · Consumer Debt, Consumer Info, I'm being sued!
Tags: Case Law·Credit Cards·Open Ended·State Statutes·Statute of limitations·Written Accounts
Which Statute of Limitations on a Debt is Applicable if I’ve Moved?
October 30th, 2008 · 15 Comments · Consumer Debt, Credit Counselor Front Lines, I'm being sued!, Legal Stuff
Just received this question from a reader:
Q. I had a collection that originated in 2004 in Maryland. The statute of limitations (SOL) was 3 years; 2007 came and went with no suit from the collection agency.
Now I live in a state where the SOL on a written contract is 6 years. If they can [...]
Tags: Creditor Lawsuit·Debt Borrowing·State Laws·Statute of limitations·Written Contract
Statutue of Limitations On A Debt – It May Not Depend on Your State
August 1st, 2008 · 10 Comments · Consumer Debt, I'm being sued!, Legal Stuff
In general, the statute of limitations (SOL) on a debt starts 180 days after a credit card company charges off the debt. Each state has a different statute of limitations. To see what the (SOL) is in your state, click here.
Recently, however the question of which state to use as the [...]
Tags: Capital One vs. Gregorich·Cardmember Agreement·debt·State·Statute of limitations
Your Old Hospital Bill is Up for Bid Online to Collectors
June 23rd, 2008 · No Comments · Consumer Debt
It’s common knowledge that credit card companies sell off bad debt to collection agencies (aka Junk Debt Buyers). It’s also known that hospitals and doctors sell off debt to collection agencies as well. But did you know that hospitals are auctioning their debts off on the internet? Two main companies, ARxChange.com [...]
Tags: ARxChange·Auction Debt Online·Collectors·Hospital Bill·Medipent·Statute of limitations
