Illinois SOL

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Illinois SOL

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Posted: Mon Aug 25, 2008 8:25 am Subject: Illinois SOL

Can anyone comment on SOL for Illinois for credit card accounts and when timing for SOL begins. Lastly where can state information be found regarding SOL on credit card accounts. _________________ Register today to encash debtcc points.

Seeking Iformation
Guest

Debtcc Points: 100

Posted: Mon Aug 25, 2008 10:31 am Subject:

It is 5 years for an open account which is what credit cards fall under. I found the information on a google search.

SOAPLADY
Moderator

Joined: 07 Feb 2007
Posts: 1092
Debtcc Points: 13753

Posted: Mon Aug 25, 2008 11:51 am Subject:

Quote:

ILLINOIS STATE LAWS
http://www.legis.state.il.us/legisla...apterlist.html

SOL
http://www.legis.state.il.us/legisla...5act5Sub87.htm

Retail Installment Act
http://www.legis.state.il.us/legisla...h815act405.htm

Motor Vehicle Retail Installment Sales Act
http://www.legis.state.il.us/legisla...h815act375.htm

State UCC
http://www.legis.state.il.us/legisla...ct5artstoc.htm

Bounced Check
810 ILCS 5/3-118
(c) Except as provided in subsection (d), an action to enforce the
obligation of a party to an unaccepted draft to pay the draft must be
commenced within 3 years after dishonor of the draft or 10 years after
the date of the draft, whichever period expires first.

Illinois Compiled Statutes
Business Transactions
Credit Services Organizations Act
815 ILCS 605/
http://www.legis.state.il.us/legisla...h815act605.htm

Illinois Compiled Statutes
Business Transactions
Illinois Fairness in Lending Act
815 ILCS 120/
http://www.legis.state.il.us/legisla...h815act120.htm

Illinois Compiled Statutes
Business Transactions
Revolving Charge Billing Act
815 ILCS 130/
http://www.legis.state.il.us/legisla...h815act130.htm

__________________
_________________
Texas Residents

All CA's are required to post a bond with the SOS
http://direct.sos.state.tx.us/debtcollectors/DCSearch.asp

When requesting Validation, reference the FDCPA as well as Chpter 392 of the TFC:
http://tlo2.tlc.state.tx.us/statutes/docs/FI/content/htm/fi.005.00.000 392.00.htm

NASCAR_Devil
Moderator