What is the statute of limitations on closed credit cards in Michigan?

Answer 1

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.

Answer 2

A 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.

Answer 3

Six (6) years from the DLA on the account.

Answer 4

The 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.

Answer 5

Normal 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.