SOL for credit card debt in NJ
Date: Sun, 12/07/2008 - 18:48
Confused. I have also read 3 versus 6 years for SOL on credit card debt. Which is it? 3 years or 3 years.
The debt collectors try to make it 6 years BUT for credit cards
The debt collectors try to make it 6 years BUT for credit cards it is 3 years. Oral and written contracts are 6 years. Promissory notes are 6 years. you can use this as a defense:
Open-ended Accounts are 3 years: These are revolving lines of credit with varying balances. The best example is a credit card account. Please note: a credit card is ALWAYS an open account. This is established under the Truth-in-Lending Act:
Ehh now I am confused I searched around for you after I posted a
Ehh now I am confused I searched around for you after I posted above and I see 6 years for open accounts.