online credit card statute of limitations for AZ
Date: Sun, 11/21/2010 - 16:11
I haven't obtained or used credit cards in about 4 years. I haven't made any payments in over 3 years and haven't spoken to any of the collection agencies that have called in 3 years. I believe all of my negative accounts are credit cards I applied for online. I've lived in AZ for the last two years.
Are credit cards always considered Open Ended Accounts? 3 years is the SOL for credit card debts of an Arizona resident without a judgement, correct? And what is the difference between a revolving account and an installment account on an experian credit report? I've only had unsecured credit cards and 1 car loan but within installments section it says I have 11?? Can anyone tell me how to obtain the agreement for determinig the state that has jurisdiction to set the SOL ?
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I haven't been served to appear and don't know of any judgements against me. There are none listed in my CR. So its my understanding unless a creditor stated in their terms their home state has jurisdiction none of the creditors are within SOL for an Arizona resident, is this correct?
Are credit cards always considered Open Ended Accounts? 3 years is the SOL for credit card debts of an Arizona resident without a judgement, correct? And what is the difference between a revolving account and an installment account on an experian credit report? I've only had unsecured credit cards and 1 car loan but within installments section it says I have 11?? Can anyone tell me how to obtain the agreement for determinig the state that has jurisdiction to set the SOL ?
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Some credit card agreements may stipulate that the laws governing the home state of the issuer determine the terms and major provisions of the contract. That means that if the credit cardholder lives in Maine, but the issuer is based in Delaware, the Delaware statute of limitations may appl |
I haven't been served to appear and don't know of any judgements against me. There are none listed in my CR. So its my understanding unless a creditor stated in their terms their home state has jurisdiction none of the creditors are within SOL for an Arizona resident, is this correct?
'Are credit cards always considered Open Ended Accounts?' Yes, c
'Are credit cards always considered Open Ended Accounts?' Yes, credit cards are established as Open Ended accounts under the Truth In Lending Act.
3 years is the SOL for credit card debts of an Arizona resident without a judgement.
Regarding revolving account, a revolving account is an account w
Regarding revolving account, a revolving account is an account where you are given a certain credit limit and you make monthly payments based on how much you borrowed that month.
Where as, an installment account is an account where you pay a pre-set monthly payment and pay off the balance over time. These are for accounts such as auto loans, mortgages, personal loans etc.