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Ok. Here is the SOL for S.C.
South Carolina Statutes of Limitation
Breach of Contract: 3 years, (SCCLA 15-3-530).
NOTE: A partial payment or acknowledgment in writing tolls the SoL, (SCCLA 15-3-30).
Foreign or Domestic Judgments: 10 years, (SCCLA 15-3-600).
I use to practice law in SC up unitl 9/02 when I moved to WV.
The 3 year SOL in 15-5-530 would apply to credit card debts. While there are no SC court decisions saying as much, credit cards are contractual obligations. Absent a more specific statute of limitations applicable to the particular type of contract (either 15-5-520 or 36-2-725), the 3 year SOL will apply. (e.g. contracts under seal and secured by real property have 20 year SOL)
The 6 year UCC SOL applies only to contracts for the sale of goods. This would not apply to credit cards for several reasons. First, your obligation to pay the credit card does not arise from contracting for the purchase of goods. Goods in the UCC means actual physical products. Your credit card contract is a contract for a line of credit or a revolving account; not for a physical product. Also, you might never buy any goods with a credit card. Perhaps you only use it to pay for doctor visits; that would be for services and not goods.
Also, the UCC only applies to contracts between merchants and buyers. A merchant is one who regularly does business in, or holds himself out as regularly doing business in, the sale of goods. Your credit card contract is between you and the bank. The bank is not a merchant of goods with respect to your credit card agreement.
The UCC SOL only applies to situations like the purchase of an automobile from a dealer (but not a private seller), the purchase of furniture from a furniture shop, the purchase of a toaster from Wal-mart, etc...
Also, the 10 year "catch-all" SOL only applies when no other SOL could apply. Since credit card agreements are contracts, there is a specific SOL that would apply to them. Thus, the catch-all SOL won't apply. (This SOL only applies to very limited types of actions: foreign judgments, redemption, etc..)
So rest assured, the SOL on credit cards in SC is 3 years. That is one of the easier state's to figure out the SOL for. Ok. Here is the SOL for S.C.
South Carolina Statutes of Limitation
Breach of Contract: 3 years, (SCCLA 15-3-530).
NOTE: A partial payment or acknowledgment in writing tolls the SoL, (SCCLA 15-3-30).
Foreign or Domestic Judgments: 10 years, (SCCLA 15-3-600).
I use to practice law in SC up unitl 9/02 when I moved to WV.
The 3 year SOL in 15-5-530 would apply to credit card debts. While there are no SC court decisions saying as much, credit cards are contractual obligations. Absent a more specific statute of limitations applicable to the particular type of contract (either 15-5-520 or 36-2-725), the 3 year SOL will apply. (e.g. contracts under seal and secured by real property have 20 year SOL)
The 6 year UCC SOL applies only to contracts for the sale of goods. This would not apply to credit cards for several reasons. First, your obligation to pay the credit card does not arise from contracting for the purchase of goods. Goods in the UCC means actual physical products. Your credit card contract is a contract for a line of credit or a revolving account; not for a physical product. Also, you might never buy any goods with a credit card. Perhaps you only use it to pay for doctor visits; that would be for services and not goods.
Also, the UCC only applies to contracts between merchants and buyers. A merchant is one who regularly does business in, or holds himself out as regularly doing business in, the sale of goods. Your credit card contract is between you and the bank. The bank is not a merchant of goods with respect to your credit card agreement.
The UCC SOL only applies to situations like the purchase of an automobile from a dealer (but not a private seller), the purchase of furniture from a furniture shop, the purchase of a toaster from Wal-mart, etc...
Also, the 10 year "catch-all" SOL only applies when no other SOL could apply. Since credit card agreements are contracts, there is a specific SOL that would apply to them. Thus, the catch-all SOL won't apply. (This SOL only applies to very limited types of actions: foreign judgments, redemption, etc..)
So rest assured, the SOL on credit cards in SC is 3 years. That is one of the easier state's to figure out the SOL for.
What else can I help you with?
What is the SC SOL on card debt?
3 years 3 years
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.
Do you have to pay a debt that's over 6 years old?
You may be liable for a debt over 6 years old, depending on where you live. The debt statute of limitations (SOL) varies by state. Remember that the SOL starts on the date of the last activity on the account. This means if you make a partial payment on it, the SOL clock starts over! Get the SOL info for your state below-
If the statute of limitations for debt in Indiana had passed and then you make a payment does that make the SOL null and void?
Sure does. You've acknowledged the debt and the SOL time starts all over again.
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.
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.
If you have a charged off debt past 7 years can a new company get a collection company to collect the debt?
I don't know what state you reside in, or how the debt is classified However, it seems possible that the SOL has expired. Write the company and ask for a confirmation of the debt. Don't do anything until you receive it, and check the SOL in state pertaining to the type of debt you have.
What can happen in SC to you if you owe a debt?
If a person owes a debt in South Carolina, they may have their paycheck garnished. They can also be sued for the debt.
What is the statute of limitations when you default on loans and credit cards?
SOL's for debt are determined by the laws of the state in which the debtor resides. In some US states the SOL differs depending upon the type of debt that has been defaulted.
Do you have to pat a collection agency?
Assuming you mean "pay" instead of "pat," the answer is no. However, if the debt is yours - you can be sued for it. And if the collection agency wins, you can have your wages garnished or your checking account. Keep in mind that each state has a different statute of limitations (SOL) for debt, and collection agencies often try to collect on debt that is past the SOL. Once it is past the SOL, you cannot be sued for it.
Tony colavecchia soccer career?
Played for Lincoln City Football Club then began coaching collegiate soccer for universities like University of Louisville. He now resides in Arizona coaching youth club SC Del Sol. His pride team at SC Del Sol is the SC Del Sol 97 Colavecchia. However, despite all of his years and expertise at coaching, he fails to build this team with his contradicting and bipolar attitude
What is the statute of limitations for a creditor to collect on an unsecured debt that you have reaffirmed and then defaulted on?
SOL time limits are set by the individual states. However, when the debt was reaffirmed and payments were made the SOL 'clock' was restarted also. Anytime a payment is made, regardless of the amount, the SOL will begin from the date the last payment is made.
