QUESTION
Is there a statue of limitations on credit card debt? I have a lawyer contacting me for a delinquent amount on a credit card that is about 10 yrs old
Asked on Oct 28th, 2013 on Breach of Contract - California
More details to this question:
I have received documentation from them to go to court as they have filed. I called to make payment arrangements and they will only take the full amount or 50% now and 50% is 30 days. They will not accept anything else at this point. The total due is $1400 and I just don't have it right now. My account was turned over to an attorney and they are telling me that if it goes to court, I will be responsible for attorney fees as well. Please advise on what my rights are in this matter
1 ANSWER
There is a statute of limitations on any debt (or any claim), and it is likely to be less than 10 years (in NY it is years, in other jurisdictions in which I've practiced it is 4 years; I don't know what it is in California) but you may have revived the period if you, by trying to make payment arrrangements, admitted the debt.
Answered on Oct 28th, 2013 at 11:58 AM