Results 1 to 2 of 2

Hybrid View

  1. #1
    Join Date
    Sep 2010
    Posts
    6

    Default How Long is Credit Card Debt Valid and Collectable

    On cc debt, the law of which state controls - the state in which the debt was incurred OR the state where one currently lives.

  2. #2

    Default Re: Is 8yo Credit Card Debt Valid if Left Area

    The SOL in Hawaii is 6 years. The SOL in Illinois is 10 years. The SOL has run in Hawaii but not in Illinois. Courts will apply the SOL of the state in which you're being sued. So if you're sued in Hawaii, the court will apply Hawaii's SOL. But some states have borrowing statutes to prevent parties from shopping around for favorable SOLs. If Hawaii has one of these borrowing statutes, the court may decide to borrow Illinois' longer SOL.

    Creditors can sue you in the state in which you reside, or at the last known address they have on file for you. It would probably be beneficial to you if they knew that you had moved to Hawaii. This will prevent them from getting a default judgment against you in Illinois after they serve you by publication. All of this is speculative but it could happen.

    Keep in mind they will almost certainly find your new address once you update it with the post office or apply for a new line of credit and your new address hits your credit report. But that's okay, because you want them to know that you're in Hawaii so that they don't try and sue you in Illinois.

    1. Sponsored Links
       

Similar Threads

  1. Legal Permanent Residency: How Long is a Green Card Valid After You Leave the U.S.
    By hightop in forum Permanent Residency and Naturalization
    Replies: 1
    Last Post: 07-07-2011, 08:16 PM
  2. Banking: Credit Union Threatening Car Repossession Due to Credit Card Debt
    By americanwoman1 in forum Personal Finance And Investment Law
    Replies: 2
    Last Post: 12-13-2009, 08:31 PM
  3. Debt Collectors: How Long do Credit Card Companies Have to Legally Collect Your Debt
    By Parodius420 in forum Debts and Collections
    Replies: 1
    Last Post: 11-20-2007, 05:55 AM
  4. Collection Lawsuits: Is a Debt Past the Statute of Limitations Still Legally Collectable
    By xyzsf123 in forum Debts and Collections
    Replies: 1
    Last Post: 10-14-2007, 04:13 PM
  5. Credit Reports: Ten-Year-Old Credit Card Debt Still Appearing On Credit Report
    By amandalynn79 in forum Personal Finance And Investment Law
    Replies: 5
    Last Post: 04-04-2007, 11:25 AM
 
 
Sponsored Links

Legal Help, Information and Resources