Some one told no SOL on credit card.
Date: Tue, 07/11/2006 - 11:21
Someone told me that there is no SOL for credit card debt. Is this true?
Credit card is an unsecured debt and hence the SOL timeframe is
Credit card is an unsecured debt and hence the SOL timeframe is applicable on it. Check the date of last activity and the state where the account was opened. The SOL will be calculated based on these details. Remember, SOL gets renewed at every payment you make towards the account. If an account has run out of the statutes and you have done a payment recently, the legal timeframe of collections will start from the beginning.
roark, read this page if you are not clear with the term. ht
roark, read this page if you are not clear with the term.
http://www.debtconsolidationcare.com/forums/about12803.html