Credit Card Debt In Florida

I have been notified of an arbitration by a credit card company of which I did not realize was possible. However, it seems that the credit card companies can take away my right to court justice! Alarming it is. Anyhow, is this valid or what is the latest related to this, in Florida cases. I would like to fight this to the supreme court. When the CEO of a credit card company can make 250 M bonus per year and get away with this ~ something has to be done.

You might send them a letter refusing arbitration.

Mandatory arbitration violates quite a few laws plus there is solid case law to back it up.


You might click on my profile and click on the last link I have listed. It is a free credit discussion board.
There is an excellent arbitration refusal sample letter template that is also free to use.
You might ask about it in the credit forum on that site.

edit++++

Studly is correct that mandatory arbitration is in credit card contracts. It's become a standard clause in those contracts.
It is up to the informed consumer to use their rights in refusing arbitration.

Enforcing mandatory arbitration, even though it is in the signed contract, violates House Resolution 5162 which amends Title 15 USC 1601 of the Consumer Credit Protection Act
Plus the amendments to the Federal Arbitration Act (S. 192), and House Resolution 1054 and 3607 that amend the Truth in Lending Act, makes pre-dispute mandatory arbitration agreements in consumer credit contracts invalid and unenforceable

2007-10-13 04:53:12 by LEO S

www.miamibankruptcy.net 305-278-0811Bankruptcy attorney James Schwitalla helps people in Miami, Florida with debt issues including credit card ...

I am on my 5th collector in 8 years asking for a payment. Current company is in UT. LA, GA & MA are some of the prior. My Credit is perfect. This is from when I was in school.

Stan left out the part where credit card debts are only 4 years because they are not considered written contracts in Florida. I guess that's his collection agent training kicking in. ;)

Send these agencies a "cease and desist" letter with a not that the debt is beyond the SOL and is now "time barred". If they wish to continue to waste time and money trying to collect it's up to them.

Usually, once you have shown them you understand your rights, they will leave you alone.

2008-07-18 06:09:58 by Lars P

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I have a debt that's over ten years old and a collection company threatening to sue. I think they're fishing. The last payment was made around the year 2000 through a credit consolidation company. Nothing since. I didn't agree to pay them anything, I didn't say that I owe the amount they claim but I also didn't deny it.
Is this something I should worry about?

In Florida the limit is 4 years. If it's been 8 years since you made a payment, and you've lived in Florida the entire time, you can tell them to pack sand. If they make any threats at all tell 'em you're going to file a complaint with the Federal Trade Commission.

If you lived in Florida, then left the state, then came back, the time you lived outside the state does not count toward the 4 years. So the time stops, then starts again when you come back.

2008-02-21 19:02:10 by Michael

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Would signing an application for a Discover card and the associated Cardholder Agreement mean I agreed in writing to have my wages garnished, and thus prevent an exemption as Head of Family?

You're confusing a lot of stuff.

Would signing an application for a Discover card and the associated Cardholder Agreement mean I agreed in writing to have my wages garnished? Garnishment can only occur when there is a court order. That occurs when you haven't paid for a few months.

You cannot be made to agree to such a thing, it's not legal.

, and thus prevent an exemption as Head of Family? This has to do with taxes, not credit.

That is what goes on the 1040, and a W-4.

2007-10-17 14:08:03 by patrolman

My brother opened up a credit card in March 2005 in Connecticut. He currently lives in Florida. He was summoned to go to court about this debt. Can he use the SOL defense? He read an article about the SOL in FL being 5 years, not 4 years. What is the truth to that? ANY advice would be helpful. If anyone has gone through this before, please share your story so he can get an idea with what he will have to go through. Thanks!
He took the cc loan in March of 2005 and never made a payment. So would that be considered the last activity made? Catdad- I'm bad with math and don't know how they calculate the SOL, so does the FL SOL defense apply in this case?

Thanks for the responses!
To be sure when the last activity happened, will he be able to tell by looking at his credit report?

Thanks again for all your informative answers.
Sgt Big Red- When did they change the SOL for FL? Anyhow, if he does get a judgement, will it be on his credit for 20 years? If he were to pay it off in a few years, will the judgement still appear on his credit report? If he's not working at the moment, what will happen?

Thanks!

Well once again misinformation abounds.
The real Florida statute of limitations on credit cards is 5 (five) years, NOT 4! as per Title VII, Chpt 95; sub 95.11 (1)(a): (a) An action on a judgment or decree of any court, not of record, of this state or any court of the United States, any other state or territory in the United States, or a foreign country.

Now, there is also a law that requires the collection agent or agency must be registered in the state of Florida (Title XXXIII. Chpt 559.565 Enforcement action against out-of-state consumer debt collector:
(1) Any out-of-state consumer debt collector who collects or attempts to collect consumer debts in this state without first registering in accordance with this part shall be subject to an administrative fine not to exceed $1,000 together with reasonable attorney fees and court costs in any successful action by the state to collect such fines.

As to when the SOL starts, Florida Statutes implies the following : "date that the last date that the last element of the cause of action occurred" which as a practical matter would be the date of last activity. However, the statute of limitations is tolled during any period that he was out of the state.

Now this debt is still within the state SOL so your friend had better show up in court or he could loose by default.

Under Fla law, if they take legal action, he will be provided with a summons from the court and also an area to check any applicable box that would apply to his defense. But unless he is head of houseold, he is not exempt from garnishement of wages and under Florida laws, any property he resides at is protected under the homestead act.

See my sources to verify this answer.

Hope this answer is of help to you
LEGAL DISCLAIMER: The answer provided here is intended for informational purposes only. It is not intended nor presumed to be legal counsel or professional legal advice

EDIT: per your update, the SOL never changed. As to the judgment, under the FCRA if he satisfies the judgment, then it will only be on his report for 7 years (only non satisfied judgments can be reported for longer then the 7 yr period described under the FCRA. The reporting time is either by FCRA guidlines or the states whichever is longer.
http://www.ftc.gov/os/statutes/031224fcr a.pdf
Florida statutes for listing a judgment on ones credit report is for 7 years and is renewable for an additional 7. The 20 SOL is for liens placed on real property, 55.081 Statute of limitations, lien of judgment

2009-12-13 21:32:37 by Tinkerbell