Credit Card Debt By State

Is the Statute of Limitations on credit card debt, determined by the state you currently live in or where the debt originated?

I have a debt that I stopped paying on in Jan 2002. I acquired the debt while living in Texas and stopped paying it while living in Texas. My husband is military so we have lived in Missouri for the past 4 years.

The SOL for TX is 4 years for open accounts (credit cards) and for MO it is 5 years. Either way, the SOL has run out on this debt, however I am still wondering which would apply to us since we are military? We claim TX as our home/residence.

Thanks!
This debt was sold to a debt collector years ago.

I have known others that have written cease and desist letters so I am not so sure that SOL on card debt is a "myth".

The collecting SOL on a credit card is not a myth.

Generally you would go by the state where you have set up residence - employment, utility bills, pay taxes, etc.

Though the creditor/collection agency can actually chose which state they want to file a suit in, if they chose to file.

Since you are out of the collecting SOL in both states, send a SOL letter that includes the fact you are out of the collecting SOL for "both" states.

You might go to the following link and read the SOL letter that is listed.
http://whychat.5u.com/nottoca.html

You can also scroll down to the bottom of that page and click on the home page.
Once on the home page, scroll down to near the bottom where the states are listed.
Click on both states. The statutes you would need for the SOL letter will be listed.

edit+++++
Anonymous -
As for that link you posted, I think Studly gave an excellent example by listing the FCRA statutes of the reporting SOL.
I really don't understand why you posted that link to begin with when the facts of the reporting SOL were posted in there.

As for the "proof" of collecting SOL for you (and for the OP)
If you would take the time to read the state statutes for both Texas and Missouri, you would see for yourself that there is indeed a collecting SOL, as there is in "every" state.

Texas statutes for the collecting SOL and the statutes to prohibit the re-aging of the collecting SOL
§ 16.004. Four-Year Limitations Period
(a) A person must bring suit on the following actions not later than four years after the day the cause of action accrues:
§ 16.065. Acknowledgment of Claim An acknowledgment of the justness of a claim that appears to be barred by limitations is not admissible in evidence to defeat the law of limitations if made after the time that the claim is due unless the acknowledgment is in writing and is signed by the party to be charged.

Missouri
§516.120. Within five years
And the statute that places credit cards in a 4 or 5 year SOL (the 4 year SOL would be the UCC. If the card is a store card claiming the UCC statutes is possible)
432.045: 2,3.

Anonymous, I don't want to get into a gripe match with you on this and I was not the one who gave you the negative vote. If I had, I wouldn't have seen your edit.

2007-04-10 22:42:21 by GeminiStars

www.freedomfromcreditors.com PlanB Credit and Debt Consultants talk about Protecting your assets while dealing with a Credit Card Lawsuit, Debt ...

My 20 year old cousin just found out she's pregnant. She lives at home and has a good job, but she's moving out. She has about 15,000 in credit card debt and my Aunt is under the impression that in Ny state she will be held financially responsible if my cousin is not able to make her payments.

In the State of New York, the age of majority consent is 18, therefore at 18 you are considered to be an adult. So, unless your Aunt (unwisely) co-signed on this credit card debt and they are not in her name, she is not responsible.

2009-02-09 17:56:24 by dixie8026

Price: $24.95

I'm looking for the area of the country that either is the most current by capita on credit card debt ... or the state that is most likely to pay a delinquent account.

According to a report released in June of this year North Dakota carries the smallest per capita percent of credit card delinquencies at just 0.73% followed by South Dakota at 0.77% and Alaska at 0.77%.

The highest delinquencies were reported in Nevada, Florida and Arizona.

I hope that helps. You can read a synopsis of the report at
http://money.cnn.com/2009/06/08/pf/credi t_card_delinquency/index.htm

2009-08-04 11:27:52 by mottola33

Price: $19.95

If I got a visa while living in nebraska which is 6 years and now reside in kansas which is only 3 years, and the credit card company is located in fla which is between 4 and 6 written? Which state do you go by the statue of limitations for credit card debt?
I found it at http:www.debtreferral.com/statue.html so what if the credit card co was from kansas? Does that mean the statue would be 3 years...or where i lived which would be 6

It's where you lived at the time you incurred the debt.

I'm not sure the statue of limitation for Nebraska, but if they are not up they can file the judgment in the state you live at now.

2006-06-28 16:59:44 by michelle s

for instance:

are you in favor of an "individual's terms and conditions" leaflet that you could send to the credit card company when they send you their "credit card terms and conditions" leaflet?

"how to get out of debt" articles state that you should "address" your credit. Should you address it by calling it Mr, Mrs. or Ms?

Or how can you change the laws to bring down the interest rates on credit cards?

Or how can you change your state's laws from "work at will laws" to "keep your job laws"? So that you can have continuing work to be able to pay your bills.

your ideas please.
not intrested in hearing about way to repay....please read the question.
thanks Jim, and yes I am.
However I need to get answers to my "survey". There are two ways to look at everything. From the individual's point of view and from the business point of view. I want to hear the Individual's point of view.
I didn't ask about repairing credit.
susieg, these days a person can't cut up their credit cards, everyone needs credit for high ticket items like a mortgage or a car.

I know you can call your credit card company and talk them into giving you a lower interest rate.
Address your credit just means to pay attention and if it is out of control then do steps to get it back in control.
Cut up your credit card if you cant stop using it for convenience.
Changing laws: you can contact your State Representative and Congressman. The names and address' are in your local paper.

2007-06-14 02:34:57 by sophieb