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What is the statute of limitations on credit card debt in Arkansas after being charged off and sold to a third party?
Wiki User
∙ 10y ago
5 years from the date default of the account. If at any time a payment or partial payment is made the SOL begins from that date.
Read this in link below:The above link is a Federal Bankruptcy Court Ruling coming out of the Eastern District of Arkansas in a Chapter 13 Bankruptcy proceeding dealing with this exact matter as to whether the SOL is 3 years or 5 years for a credit card. The correct answer is 5 years.
Wiki User
∙ 10y ago
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