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What is the statute of limitations on credit card debt in Florida and Michigan?
Wiki User
∙ 17y ago
Credit Cards are typically considered Open Accounts. The credit card agreement you signed may specify the state laws that will apply to the account and collection activities associated with it. Read the contract and consult an attorney. In Florida Open Accounts are subect to a 4 year statute of limitations. In Michigan Open Accounts are subect to a 6 year statute of limitations.
Wiki User
∙ 17y ago
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What is the statute of limitations for credit card debt in Massachusetts?
The statute of limitations on credit card debt for Massachusetts is 6 years according the website I found. (http://www.creditinfocenter.com/rebuild/statuteLimitations.shtm) NOTE that this is different from what will be reported on your credit report. In any case, if you do not pay what you owe, your score and ability to borrow will be low for a longer period of time.
How long are you liable for a credit card debt?
As a responsible cardholder, you are generally liable for any credit card debt up to the statute of limitations as established within your state. This does not prevent a debt collector from continuing to pursue older debts, but it does generally prevent judgments on old debts as long as you advise the creditor or court that the statute of limitations has expired. Debt collectors may still pursue debt collection even beyond the statute of limitations.
Can you still be contacted on a debt that was written off in 1993?
There is no statute of limitations on collecting a bad debt. If you owed the debt in 1993 and never paid it, you still owe the debt. A judgment has a statute of limitations that is set by both the federal Fair Credit Reporting Act and laws of the state in which you live, or the credit (or collection agency) does business "...whichever is longer". There are circumstances under which an 11 year old debt could be both reported on your credit, collected and filed suit on. If you suspect the statute of limitations has expired; it gives you a cause for disputing the credit report entry and a defense to the judgment.
Can a credit card company sue you after fourteen years?
This will depend on the statute of limitations in your state but there are also other factors that will determine whether or not they can as well. The statute of limitations for your state is dependent on when the last time you made a payment or used the card. So, if you made a payment two years ago on the debt but it's been fourteen years since the last item was charged on your card you only have two years towards the statute of limitations not fourteen. Often, credit card company collection agencies will tell you that they will sue you even if the debt has passed the statute of limitations in order to try to collect on outdated debt. After the statute has passed the company has no legal right to collect it. Additionally, in most cases if the debt is more than 10 years old since the last payment had been made, it is not allowed to be on your credit report. Interestingly, if your states statute of limitations is five years, it can still be posted to your credit report until the 10 years has fully elapsed.
How can you remove out of date bad credit from your credit history?
Contact the 3 main credit bureaus (Equifax, Transunion & Experian) and dispute the debts based on the statute of limitations has exceeded. They will remove it. Keep in mind the statute is 6 years 9 months from the last date of payment. Everytime a payment is made on a debt the statue renews itself.
What is the statute of limitations for debts to be collected by creditors in a persons death in Michigan?
Credit Cards are classified as Open Lines of Credit in Michigan. The statute of limitations is 6 years. That is measured from the last acknowledgment of the debt by the estate.
What is the statute of limitation on credit card debt inFlorida?
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Florida is 4 years. That is measured from the last use or payment.
How do you determine what the statute of limitations is on a credit card dept from 2001 in the state of Nevada?
http://www.creditcards.com/credit-card-news/credit-card-state-statute-limitations-1282.php
What is the statute of limitations on bad credits?
The statute of limitations for debts reported on your credit report is 7 1/2 years.
Colorado statute of limitations credit card?
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Colorado is 3 years. That is measured from the last use or payment.
What is the statute of limitations on closed credit cards in Michigan?
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Michigan it is one of the longest at 6 years. That is typically measured from the last use or payment.
Is there a statute of limitations on suing someone for credit card credit?
one year
What is the statute of limitations on credit card debt resumed after bankruptcy in Florida?
That would be classified as a written agreement in Florida. That sets the limit at five years from the last acknowledgement of the debt.
Is there a statute of limitations for evictions to be on your credit?
Statute of limitations apply to bringing law suits for civil or criminal charges. Reporting of debts on a credit statement is normally limited to 7 years.
What is the statute of limitations on a credit card debt in ny?
4 years
What is the statute of limitations in connecticut for credit card debt?
7 years
What is the statute of limitations for credit card debt in South Dakota?
The statute of limitations on credit card debt in South Dakota is six years. The company is allowed to aggressively pursue payment for that period of time.
