Legal Question in Credit and Debt Law in Oregon

credit card debt

how long can company come after debit


Asked on 3/02/07, 8:26 pm

1 Answer from Attorneys
Andrew Svitek Svitek Law Group, LLC

Re: credit card debt

A credit card debt is an "open ended account." In Oregon, the Statue of Limitations for open-ended accounts is 6 years.

Keep in mind that the credit card company can obtain a court judgment which is good for 10 years and can be renewed for another 10 years.

Also, under the Fair Credit Reporting Act, creditors may report the delinquency for 7 years.

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Answered on 3/24/07, 7:12 am


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