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When does Statue of Limitation starts on credit card debt?

19850 |

I am confused on all the different answer about SOL
For example if:
9/22 last payment
10/3 last purchase also the last activity on the account
10/29 due date (no payment made and delinquent fee charged)

When does SOL start?
1. The date of last payment made to the account?
2. The date of last activity on the account?
3. The due date in the billing cycle which the account holder failed to make payment
If, for example, a payment is due on 10/29 and it does not arrive by that date, the statute of limitations clock starts running on 10/30?

Attorney Answers 3


  1. In a lot of jurisdictions, the statute would begin to run 30 days after the last payment that brought the account current. So based on your scenario it would be 10/22 or so. The 10/29 date is also a good candidate. It all depends on the language of your state's statute and the interpretation that your state's court system has put on it.


  2. To be safe, assume the last date. You didn't ask about which SOL to apply, but if it is a credit card, look to the state where the card issuer is headquartered. Discover FIA and Chase are in Delaware, whichis a 3 year SOL ( subject to some state laws), Target and Citi are in SD, which is 6. This is for starters: other factors may affect the SOL


  3. It Would Be The Date Of Last Activity By You On The Account, Whether That Be A Payment Or A Purchase. I Would Argue That The Sol Which Will Apply Is That Of The State Where You Live When Collection Is Being Pursued.

    Disclaimer: The foregoing answer does not create an attorney-client relationship with Attorney Cannella or her firm. This answer does not constitute legal advice, is provided for informational and educational purposes only for persons interested in the subject matter, is not legal opinion, nor confidential in nature. Each situation is fact specific and may be subject to state specific laws. Without a comprehensive consultation and review of all the facts and documents at issue it is impossible to evaluate a legal problem fully.

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