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What is alabamas staue of limmitations law regarding credit debt?
Alabama has one of the longer statute of limitations (SOL) for credit card debt. Credit card debt is considered a contract debt in AL. That makes the SOL 10 years from the date of last activity on the account.
What is the statute of limitations on a credit card debt Arizona?
The SOL starts on the last date of activity on the credit card. So, don't make any payments or you will restart the SOL. In Arizona, the SOL is 6 yrs on credit cards.
What is the definition of SOL in the phrase the SOL on credit card debt is 3 years?
SOL stands for Statute of Limitations. It is the time in which they must notify you of the debt and bring suit to collect.
What is the sol in Tennessee for a credit card debt?
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Tennessee is 6 years. That would be from the last use or payment.
What is the sol on credit card debt?
It varies from state to state. Most states are 3-5 years.
What state applies to the SOL for credit card debit?
The SOL depends on the state and type of agreement. Also note that credit card debt is called an open end account. The SOL for debts that have expired (no longer required to pay) is not the same SOL used by credit bureaus. Take a look at the following site http://www.credit-repair-specialist.com/debt-collection-statute-of-limitation.html and http://www.blogblackstocks.com/2007/02/how_long_does_n.html The SOL depends on the state and type of agreement. Also note that credit card debt is called an open end account. The SOL for debts that have expired (no longer required to pay) is not the same SOL used by credit bureaus. Take a look at the following site http://www.credit-repair-specialist.com/debt-collection-statute-of-limitation.html and http://www.blogblackstocks.com/2007/02/how_long_does_n.html The SOL depends on the state and type of agreement. Also note that credit card debt is called an open end account. The SOL for debts that have expired (no longer required to pay) is not the same SOL used by credit bureaus. Take a look at the following site http://www.credit-repair-specialist.com/debt-collection-statute-of-limitation.html and http://www.blogblackstocks.com/2007/02/how_long_does_n.html
Did the president extend the statutes of limitation for credit card debt?
No the debt statute of limitations (SOL) has not been extended. The SOL varies by state. You can learn more about your rights in terms of debt collection by reading up on the FDCPA. It was last amended in 2006.
Is there a statute of limitations on suing someone for credit card debt?
Yes, credit cards are considered open accounts, all states have SOL's pertaining to the time limit in which a debtor can be sued. You can find out what the SOL for your state is by visiting www.fair-credit-collection.com
If the statute of limitation in Michigan is 6 years-is it 6 years from the last payment you have made on a credit card.?
The statute of limitations on debt in Michigan is typically measured from the date of the last activity on the account, such as a payment. So, if you made a payment on your credit card account, the 6-year period would likely start from that date. Just keep in mind that consulting with a legal professional for specifics on your situation is recommended.
Is credit card debt cleared if seven years passes without it being paid?
The SOL for credit cards, which are considered "open accounts" varies by state. Some are as short as three years most are under seven. Once the SOL for the state of residency has expired, the debt is, by law, no longer collectable.
What is the SOL on credit cards in the state of Georgia?
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Georgia it is 6 years. That is usually measured from the last use or payment.
What is the SC SOL on card debt?
3 years 3 years
