Statute of Limitations on Credit Card Lawsuits in Wisconsin

[Renrut]

I know that there is a definite period of time within which a Co. can sue a person, but I don't know what it is, or where to find the answer (correct).

Once a Bank has sold their charged-off paper to a collection co., and that Co decides
to bring suite against the consumer, aren't they then, the "plantiff" - rather than the
original bank? Shouldn't the suite read -- "Ace Collection Agency, assignee of County Bank - Plantiff vs: John Doe, Defendant ??

Any info will be appreciated. Thanks - Renrut

[Madmanmike1972]

WISCONSIN STATE LAWS


Interest Rate: Legal:5% Judgment:12%

Statute of Limitations
Open Acct:6
Written Contract:6
Domestic Judgment:20
Foreign Judgment:20

Bad Check Laws (civil penalty): Amount of check plus actual damages + exemplary damages up to three times value of check. Limited to $300.

General Garnishment Exemptions: 80% of net pay.

[aaron]

A collection agent is just that - an agent of the creditor. Being a collection agent does not make them the owner of the debt.