gamtam Posted January 4, 2005 Report Share Posted January 4, 2005 I live in OhioI would like to know what the SOL is on Credit Cards/MasterCard/Visa for my state.I have had some people tell me they are Open-ended accounts and others say they are Written Contracts.I really need to have this verified by a legal professional that knows the Ohio state laws on this subject. Or, some idea of how I could find out the actual law for quoting in a letter to CA.Thanks Link to comment Share on other sites More sharing options...
LadynRed Posted January 4, 2005 Report Share Posted January 4, 2005 Per the FEDERAL Truth in Lending Act, credit cards are OPEN-ENDED AGREEMENTS, NOT written contracts. OH statutes are a mess, but the SOL generally for credit cards - or an contract NOT in writing, is 6 years - not the 15 that CA's would throw at you.You can check out this bit of the OH statutes that excludes credit cards from being written contracts:http://community-2.webtv.net/Y-Chat/WhyChatsCredit/page36.html Link to comment Share on other sites More sharing options...
gamtam Posted January 4, 2005 Author Report Share Posted January 4, 2005 That is what I am looking for. You are a true life saver. All of our Credit Card accounts are past the 6 year SOL.We now have the upper hand on dealing with the CA's on these accounts.Thanks so much!! Link to comment Share on other sites More sharing options...
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