Texas, Indiana
Question
Which state's statute of limitations applies to my credit card debt?
I am receiving letters from multiple collection agencies (2 are 'law office' collection agencies) regarding the same debt. the account in question is a claim from a CompUSA credit card that I opened in 2002. My last payment was made in 2004 and I've been hearing from different collection agencies ever since. Now, I don't know which if any of these third parties I actually owe (since I'm hearing from more than one at a time.) But here is the real question... I created the account in Texas (where the statute of limitations is 4 years)... I moved to DC and made several payments there including my last one (where the statute of limitations in 3 years.)... I presently live in Illinois (statute of limitations is 10 years)... but I have never made a payment living in Illinois and these collectors are in Indiana (also 10 years)... can I be held to the 10 year statute of limitations since that was nowhere to be seen when I made the original agreement in Texas and then made payments in DC?
2 years ago - 5 answers
Best Answer
Chosen by Asker
It is the state you created the debt in, not the state you live in now. So since you created the debt in Texas, the SOL would be 4 years, which would be next year. Trust me if they were going to take you to court for a judgment they would have done it already. Just throw the letters away. You shouldn't be getting a letter for the same debt from three different places anyways. Usually that just means that they have sold the debt to yet another collection agency and they know the chances of collecting it are smaller. The last place to get it is always a "lawyer". It sounds so legal, but it is a scare tactic. If they were going to sue you, like I said, they would have done it years ago.
2 years ago
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Other Answers
sadly yes you can it is based on where you live. if you dont plan to pay it stop sending payments. every time you send a payment it resets the clock. if it is just the one place and you have a real reason for not paying go to local district court. if your in real debt and there only one buging you. well the rest will soon join. look at bankruptcy. as a bad credit report is worse than bankruptcy. ask a lawyer in your town the will advise same way.
by turtle lover- 2 years ago
I don't think that any statute of limitations is going to cover you with this. I am not an attorney, so I cannot give legal advice, but it seems that debt is debt. I believe a state's statute of limitations is in reference to how long you have to file suit after an event has occurred. If you owed money a year ago and haven't paid it, you still owe money now, the "event" hasn't changed. I have heard of creditors re-filing items on people's credit every few years if it hasn't been paid. It really depends on how much effort these people really want to put into it. My advice would be to work out some sort of settlement and be done with it.
by E A- 2 years ago
just because it may be off your credit report.... you will always owe the money the debt doesn't disappear unless you pay it
by clgirl- 2 years ago
They have to sue you in the jurisdiction where you live. As long as you live in Illinois, Illinois statute of limitation applies.
by 123Catarina- 2 years ago