2007-10-15 06:13:54 · 3 answers · asked by kapv_195 1 in Business & Finance ➔ Credit
Georgia is 4-years.
They go by the State you live in not where the company is located.
2007-10-15 06:18:07 · answer #1 · answered by ? 7 · 3⤊ 0⤋
It varies by state. Check out http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml
It gives you the statute of limitations for each state. Basically because you technically owe the money, the company has the right to choose either the statute of limitations for the state you opened the account or the state you currently live in. Of course, they are going to choose the one with the longest one to give themselves more time to collect the money. In Georgia the statute of limitations is four years. I'm in a similar situation where I got in over my head, my credit is trashed, and so I'm just negotiating settlements with my credit cards one at a time when I can pay them until the limitations run out, or I have them all paid off. I think it will be better than having bankruptcy. My buddy who declared bankruptcy told me that his lawyer had told him that as long as you make any effort to pay, even $1, the company cannot take you to court. Hope the info helps out. Good Luck.
2007-10-15 06:23:09 · answer #2 · answered by Jason Las Vegas 3 · 1⤊ 0⤋
Ohhhh just pay your bills and you won't have to worry about it.
2007-10-15 06:19:58 · answer #3 · answered by Flatpaw 7 · 0⤊ 3⤋