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What is the statute of limitations on closed credit cards in Michigan?
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoA credit card is an open ended account. Michigan has set the statute of limitations at 6 years. That will be from the last communications from the debtor. Please note that the credit card may be based on a different jurisdiction which could be longer! Check your agreement for the applicable jurisdiction.
Wiki User
∙ 15y agoSix (6) years from the DLA on the account.
Wiki User
∙ 13y agoThe standard limit is 6 years for open lines of credit in Michigan. This is from the last communications by the debtor. They can file claim at any point during this time.
Wiki User
∙ 13y agoNormal debt will be 6 years in Michigan. That is from the last communication or acknowledgement of the debt. It can easily start running again through a phone call or letter with a receipt.
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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 limitations on credit card debt in Florida and Michigan?
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.
Can a credit collection agency pursue payment on an account that has been closed for 10 years?
Yes, there is no statute of limitations on debt.
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
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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.
Is there a statute of limitations on suing someone for credit card credit?
one year
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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.
Does the statute of limitations on credit card debt start over when sent to collections?
No, the statute of limitations won't start over again unless you make a payment.
