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Guest · Posted: Mon Dec 17, 2007 5:51 pm

does anyone know why the sol on credit card debt in illinois is 5 years? I have seen online it is 5 years, but I have not seen the proof. Anyone know?

Guest · Posted: Mon Dec 17, 2007 5:55 pm

I have been told it outlines it in 735ILCS 5/13-205 of the code of civil prodedure, but it doesn't make any sense to me!

Posted: Tue Dec 18, 2007 6:07 am

Illinois Statutes of Limitation

Breach of contract for sale under the UCC: 4 years.

Open account or unwritten contract: 5 years. NOTE: Except, as provided in 810 ILCS 5/2- 725 (UCC), actions based on a written contract must be filed within 10 years, but if a payment or new written promise to pay is in made during the 10 year period, then the action may be commenced within 10 years after the date of the payment or promise to pay.

Domestic judgments: 20 years, but can be renewed during that 20-year period.

Foreign judgments are the same time as allowed by the laws of the foreign jurisdiction.

Tolling: A person's absence from the state or during the time that an action is stayed by injunction, court order or by statutory prohibition tolls the time limit.

Non Sufficient Funds (NSF or Payment of Negotiable Instruments) checks: 3 years of the dishonor of the draft or 10 years after the date of the draft, whichever expired first: 810 ILCS 5/3-118

Posted: Wed Dec 19, 2007 8:19 am

I had no clue on the various sol's thanks.

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