Results 1 to 5 of 5
  1. #1
    Join Date
    Dec 2006
    Posts
    4

    Default Statute of limitations on credit card debt

    I lived in California from 1995 to 2003. I got an MC bank card in 1992, I stopped making payments (due to illness) in 1996. The SOL in Ca on written debts and credit cards is 4 years. MC never tried to get a judgment. Thus the debt became uncollectible. However, in 2001 I moved to Illinois which has a SOL of 10 years. A collection agency came after me claiming that since I had moved to Illinois they now had 10 years to file against me in small claims court (which they did 10 days before the 10 years would have expired).

    Since I lived in California during the entire period of the debt and 4 years and the debt became uncollectable, can it be resuscitated when I move to another state. (Is this the Dred Scott decision in reverse?)

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Statute of limitations on credit card debt

    Illinois has a "borrowing statute":
    Quote Quoting 735 ILCS 5/13?210
    Foreign limitation. When a cause of action has arisen in a state or territory out of this State, or in a foreign country, and, by the laws thereof, an action thereon cannot be maintained by reason of the lapse of time, an action thereon shall not be maintained in this State.
    So if you are correct that the California statute of limitations has run, you should be able to assert that as a defense against a lawsuit in Illinois.
    Quote Quoting Walt500
    View Post
    (Is this the Dred Scott decision in reverse?)
    Er... what does that mean?

  3. #3
    Join Date
    Dec 2006
    Posts
    4

    Default Re: Statute of limitations on credit card debt

    Aaron ... you are a genius. I could find nothing on this and you pulled it out of your hat. Are you real or are you a supercomputer?! This seemed related to the Dred Scott decision since the question before the supreme court was whether the essential status of Dred as a slave changed when he traveled to a another state. Thanks again, O Great One.

  4. #4
    Join Date
    Dec 2006
    Posts
    4

    Smile Re: Statute of limitations on credit card debt

    AAron,

    You are a genius. We went to court Wednesday and beat Arrow Financial Services, LLC, a part of Salie May. Using the advice you gave me (which my lawyer would never have found) we showed that Illinois had a "borrowing statute" and we met all the requirements. We also showed Arrow that the only exception to the statute was if either party was a resident of Illinois during the California 4 year period, then the borrowing statute wouldn't apply. Case law states that a corporation is soley a resisent of the state in which it is incorporated and not where it does business. Bank of America is a Delaware corp. When we showed them that, they folded.

    I am a winemaker and would like to send a case of our best dry red wine to you at any address you suggest. Please let me do this as I really appreciate what you have done for me. Thanks again.

    Walt

  5. #5
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Statute of limitations on credit card debt

    Congratulations.

    1. Sponsored Links
       

Similar Threads

  1. Collection Lawsuits: Credit Card Debt - Statute of Limitations
    By nickname in forum Debts and Collections
    Replies: 1
    Last Post: 07-18-2010, 06:03 PM
  2. Collection Lawsuits: Am I Outside of the Statute of Limitations for Credit Card Debt
    By Needhelp3213 in forum Debts and Collections
    Replies: 2
    Last Post: 11-05-2009, 10:16 PM
  3. Collection Lawsuits: Statute of Limitations on Credit Card Debt
    By kjt1017 in forum Debts and Collections
    Replies: 3
    Last Post: 03-21-2007, 05:36 PM
  4. Collection Lawsuits: Credit Card Debt Statute of Limitations
    By diggingmyselfoutinnj in forum Debts and Collections
    Replies: 1
    Last Post: 12-15-2006, 08:20 AM
  5. Collection Lawsuits: Statute of Limitations on Credit Card Debt
    By tonyah in forum Debts and Collections
    Replies: 1
    Last Post: 09-02-2005, 07:55 AM
 
 
Sponsored Links

Legal Help, Information and Resources