SOL Question

Date: Sun, 02/08/2009 - 11:09

Submitted by anonymous
on Sun, 02/08/2009 - 11:09

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Total Replies: 3

A Collection Agency suing me for a credit card debt sent me a copy of a cardholder agreement. The cardholder agreement says that the agreement is governed by applicable Arizona and federal law. (Bold print) Can anybody tell me what that means? Arizona SOL for collecting on credit card debt is 3 years. I don't live in Arizona but can I use the Arizona SOL here?

The SOL applies to the state in which you reside now! That is th

The SOL applies to the state in which you reside now! That is the venue where a suit would be filed if it came down to that! What state do you live in?

lrhall41

Submitted by Frogpatch on Sun, 02/08/2009 - 11:13

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Colorado - SOl here is 6 years. I entered into all of my credit

Colorado - SOl here is 6 years. I entered into all of my creditcards agreements in Missouri though which has an SOL of 5 years. I guess we have to apply the Colorado SOL here though huh? (They filed the complaint only 7 days before the sol would have run in Missouri)

lrhall41

Submitted by on Sun, 02/08/2009 - 11:31

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Well it can go by either the state where the contract was signed

Well it can go by either the state where the contract was signed or by where you live now. If you have only lived in the state with a longer SOL for a short time you can go by the state, the lower SOL, where the contract was signed. Make sure you fight it if need be.

Also definitely fight that a credit card is an open account and not a written contract in Missouri because a written contract is 10 years vs the 5 years for an open account.

lrhall41

Submitted by pokertramp on Sun, 02/08/2009 - 12:45

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