ecordova863 Posted January 12, 2005 Report Share Posted January 12, 2005 other than credit cards, what other accounts qualify as open ended? What about bank loans and medical bill accounts? Link to comment Share on other sites More sharing options...
LadynRed Posted January 12, 2005 Report Share Posted January 12, 2005 Bank loans are written contracts - set terms for a time to repay, a set payment, and you do not get to re-use the credit that you pay off. Open-ended agreements are those that have NO set repayment term and you get to re-use the credit that you pay off.The Truth in Lending Act clearly defines open-ended agreements.Utilities, like electric, water, phone, etc. are generally considered services and will usually fall under the UCC SOL of 4 years for goods and services. Link to comment Share on other sites More sharing options...
Gryffindor Posted January 12, 2005 Report Share Posted January 12, 2005 What about medical? Link to comment Share on other sites More sharing options...
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