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I had an LLC, I obtained a Line of Credit through Wachovia. The last payment I was able to make was March/2008. The bank charged off the account on 10/08. When does the statute of limitations run out for this contract? Does the count down start in March or in October? Also is that statute of limitations for this type of loan 4 or 6 years? A lawyer is threatening to sue me for over 50K unless I can come up with some kind of payment plan. Should I rely on the SOL of limitations?