2007-03-20 09:52:51 · 3 answers · asked by michael a 3 in Business & Finance ➔ Credit
Yes there is a collecting SOL on credit card debt.
How long the collecting SOL is and when it starts depends on your state.
Collecting SOL's either start from the first time you became 30 days late and never brought the account current leading to the charge off OR the start from the last time you made a payment or charge to the account.
Click on my profile and use the link I have listed to check the SOL for your state.
At the bottom of the page, click on the home page link then go to the bottom of the home page and click on your state. It will give you the statutes for your state proving the SOL time.
Credit cards are "always" open accounts.
2007-03-20 10:01:51 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Yes, the statute varies for each state. I live in Georgia, and the statute of limitations for credit card debts is 4 years. Checkout the website below for each states statutes for debt.
http://www.ihatedebt.com/DealingWithYourCreditors/DealingWithDebtCollectors/StatuteofLimitations.php
2007-03-20 10:01:27 · answer #2 · answered by Jan4 4 · 0⤊ 0⤋
Do you mean is there a certain date after which they can not go after you? No.
2007-03-20 10:00:17 · answer #3 · answered by Waiting and Wishing 6 · 0⤊ 2⤋