Florida Law on Statute of limitations

I thouht fl statue was 4 years for credit card debt.someone is persuing a case basing it on 5 year statue of limitation saying the mial in credit card application is a written instrument.can they legally do this in florida?

Hi

Welcome to the forums.

The statute of limitation for legally collecting the debt in Florida is 5 years. Legal actions are possible within this period, so you should take care of this account and get the matter settled outside the court.

The lender will be willing to work with you if you advance them some money along with your proposal letter. Make sure that you have all the papers documented with this company. Send all your mails certified with return receipt requested. Once the company has accepted your proposal, do not miss the payments otherwise all the benefits offered now won't be available to you later.

I hope your negotiation will be successful with your lenders and this will result in improvement in your credit file. Do let us know about it.

Regards
Roxette

Can a collection agency legally collect on a credit card debt in Florida that is over 5 years old?

Thanks

A credit debt is an "Open-ended" account and the statute of limitations is 4 yrs. from your last payment or purchase.

An unpaid debt is collectible until paid unless you live in one of the 2 states with a Statute of Repose (WI & MS). A 4 year SOL can be argued for Store Cards based on this case, but you would have a hard time fighting a 5 year SOL ruling on a Bank card:

The Fernandes case ruling by the appellate court specifically decided that a credit card (store) obligation is subject to the 4 years limit of the Statute of Limitaions...not 5yrs!.

Didn't I just say that?

No, you said you'd have a hard time fighting a 5yr /sol on a store card, which is erroneous information.

Read it again. Bank cards would fall under the 5 year SOL.

Other Florida counties including Hillsborough have extended that logic to visa or mastercard credit cards...although there is no appellate decision on point

Over 9 yrs ago my mother consigned for my nephew to take
truck driving classes. This year she has found out that he never made any attempt to repay. They are now after her for the money ($5000.00). Yes, I know that she did cosign but
never did she think that grandson would not repay. She is 78, poor health and simply cannot make payment. She is on a fixed income and cannot afford to pay this. What is the statue of limitations for this type of obligation or is there one?
Any suggestions would be appreciated.

You are a glorified debt collector! Do not listen to her advice. The statute of limitations is not 5 years in Florida. At best it is 4 years, but depends on the choice-of-law provision on the credit card. Stay away from debt consolidators. Most of your credit card debts sold to debt collectors can be beaten in court.

Check out Mohammed v. Capital One Bank 08-016 AP Miami-Dade and Delray v. Capital One Bank 08-516 AP. Capital One Bank uses Virginia law and Virginia's 3 year statute of limitations applies. Discover, Providian, Sears, MBNA all have 3 year SOL. Also search for Capital One v. Gregorich - it's not appellate it's easier to find online. PS call the lawyer from that case.

I have credit card debt while in Pennsylvania that dating back to 2005/summer. I recently moved to Florida Feb/2010. What state do I use for the statue of limitation on credit debt? Also,when does the clock start ticking on the debt regarding statue of limitations-last payment, charge off, last activity?

I co-signed for $8000 in college loans for my son in 2001 in NY . He is layed off and can't make payments , I'm living in Florida retired on fixed income of workmans comp, and ssd . what can I do ? thanks

The SOL is 4 years in FL, unless there is a copy of a written instrument (such as an application) in which case it is 5 years. Of course, the contract may rely on another state's law, so you would need to read the contract.