is there a statue of limitation on a credit card balance.?

Answer 1

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Answer 2

Holy Moly! It is a simple question and you get some stupid answers. Yes there is a statue of limitations on credit cards. Each state is different so you will have to check. When you check, a credit card is considered a written contract. Florida is 5 years.

Answer 3

Even after you die, your estate will be hit with the claim. At 18% interest, it might be a whopper of a claim. But what more likely will happen is the credit card company will sell your balance to a collection company for about 25c on the dollar. Then the collection company will give you a shot and possibly even file suit to collect. They could even attach your wages.

Good luck.

Answer 4

Yes, Bella, lots of terrible answers here today.

I think it's because it's Sunday and everyone wants to become a preacher....don't know.

Yes, there is a statute of limitations. Each state is differant, but a quick Yahoo search will tell you.

Answer 5

What do you mean? Are you asking if you don't have to pay just because you waited for a long time? The answer is you still owe which means you should pay.

Answer 6

the longer it carries a balance the more you're paying high interest rates

Answer 7

nope. if you owe, you owe it until you pay it off, file for bancruptcy, or the company decides to write it off.

Answer 8

you owe on it until you die or claim bankruptcy.