Legal Question in Bankruptcy in California
debt on credit ,after how many years uncollectable by law
five years ago I lost signifent amount of money on stock market and most of it from credit card , so far I could not repay that I would like to know ,is still my debt collecteble.
Sincerely
--name removed--
Asked on 6/23/04, 5:35 pm
1 Answer from Attorneys
Robert F. Cohen
Law Office of Robert F. Cohen
Re: debt on credit ,after how many years uncollectable by law
If on a written contract, California limits liability to four years. However, it depends whether your credit card agreement is in some other state that has a longer statute of limitation. It also depends on when you made your last payment.
Answered on 6/24/04, 1:23 pm
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