QUESTION
Is there a Statute of Limitations on credit card debt? How?
Asked on Aug 14th, 2015 on Bankruptcy - Michigan
More details to this question:
I am being sued by a credit card company for a debt from 2013. Is there a Statute of Limitations on this type of case?
10 ANSWERS
Real Estate Attorney serving Florence, KY
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Linda S. Novakov & Associates, PLLC
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15 years for a contract in Kentucky.
Answered on Aug 17th, 2015 at 3:01 PM
4 years from the breach.
Answered on Aug 17th, 2015 at 1:05 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Depends on the state, usually 8 to 10 years.
Answered on Aug 17th, 2015 at 1:32 AM
If the last time you used or paid on this credit card debt was in 2013, the creditor has easily avoided any problems with the statute of limitations, which is 6 years in Nevada. Maybe if they had waited until 2018 to file suit, then you would have been able to use the SOL as a defense.
Answered on Aug 14th, 2015 at 5:39 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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In the State of Wisconsin, there is a six-year statute of limitations for most debt. The 6-year period starts over with every payment you make, or any letter you write to the creditor which acknowledges the debt. It sort of sounds like the law is made to favour banks, doesn't it? An argument can be made that making relatively easy for creditors to collect on debt encourages the granting of more credit.
Answered on Aug 14th, 2015 at 5:14 PM
Immigration Attorney serving Arlington, TX
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Law Office of Pho Ethan Tran, PLLC
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It will depend on the state, but the statute-of-limitation to file a lawsuit in Texas for a debt is 4 years.
Answered on Aug 14th, 2015 at 3:52 PM
Debt Settlement Attorney serving San Diego, CA
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Law Offices of Kathryn Tokarska
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In California in a breach of a written contract the statute of limitation is 4 years. It appears that SOL has not yet expired. Many creditors, if they sue, do it about 2-4 years after account goes into default.
Answered on Aug 14th, 2015 at 3:46 PM
Debt Collection Attorney serving Chicago, IL
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Edelman, Combs, Latturner & Goodwin, LLC
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It is five years.
Answered on Aug 14th, 2015 at 3:28 PM
Yes. These are usually deemed written agreements since you have to apply for the card. 4 years is the statute.
Answered on Aug 14th, 2015 at 3:13 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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6 years from the last transaction on the account, purchase or payment generally.
Answered on Aug 14th, 2015 at 3:11 PM