Louisiana  |  Credit and Debt Law

Legal Question

Asked on: 1/22/09, 1:28 pm

credit card

What is the SOL on a open-end credit card?

1 Answer

Answered on: 1/22/09, 1:35 pm by Perry Staub

Re: credit card

Most credit card issuers would bring an action to recover a card balance in Louisiana as an action on open account. This action allows them to take advantage of the Louisiana's statute's permitted recovery of attorneys' fees. The prescriptive period (statute of limitations) for an open account action in Louisiana is three years.

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