statue of limitation
What is the statue of limitation on credit card debts. How long can the creditors come after you to repay the debt. Is it 7 years?
Asked on 10/26/03, 10:29 pm
2 Answers from Attorneys
Sharon Campbell
Sharon K. Campbell
Re: statue of limitation
The statute of limitations for debts is four years. The Fair Credit Reporting Act allows a debt to be reported on your credit report for seven years from the date of last activity.
Answered on 10/26/03, 10:37 pm
Peter Bradie
Bradie, Bradie & Bradie
Re: statue of limitation
The statute of limitations on debt in Texas is four years. However, if your credit card contract invoked the law of some other jurisdiction for all matters associated with the card, the statute of limitations could be the that of the jurisdiction named, and longer than four years.
Answered on 10/27/03, 10:10 am
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