Jump to content

Yet another SOL question....

Recommended Posts

I have searched for the answer to this but have not found it. Some background info first:

I have an account that was sold to a ca. The DOLA was in January 2002, thus it's been 4.5 years. I applied for the card in Oklahoma, but now live in Texas.

My question is this, does the "written agreement" SOL apply or does the open open ended accounts SOL apply? I may have signed the application. I don't remember. It was with Providian.

Thanks :D

Link to comment
Share on other sites

If you own a copy of 'Good Credit Is Sexy' look on page 331...

APPENDIX 4: State Satutes of Limitations:

Written Contract: You agree to pay on a loan under the terms written in a document which you and your... have signed.

Open- ended Accounts: These are revolving lines of credit with varying balances. The best example is a credit card account.

Now turn the page (page 332) find Oklaoma (Ok) and see SOL for Open- ended Accounts to be 3 years...

Now look down further to Texas (TX) SOL for Open- ended Accounts =6 years... From that, someone can tell you if you are liable under OK where you signed or under TX where you reside... The answer to this was once posted so start digging... if you do not own a copy of 'Good Credit s Sexy'

then... Order it? Best of luck

Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.