I had the exact same issue happen to me. I live in Atlanta, and got summoned in Oct 2006 for a credit card debt in which that last payment was Feb 2002. (Beyond the 4 year SOL for open accounts, but not the 6 year for written contracts) I discussed this on this forum.
This is what I wrote
I live in Atlanta, GA. I had a FCNB credit card. Last payment was 2/1/02. Got a summons on 10/18/06. Filed my answer..."Expired SOL. Credit cards are open accounts which have a 4 year SOL." Court date was today 1/22/07. Went into the court room judge asked me my name and then told me to go outside and talk to plantiff attny (Wolpoff and Abramson). We went into the hallway and she told me that the GA law is unclear about a 4 yr or 6 yr sol. She said that the courts could go either way. She said if i went back into the courtroom she would argue the 6 yr statute. Now i had heard of the truth-in-lending act and how it related credit cards to being open accts. I had the statute number on my notes that i had prepared before my case. I was thinking about going back into the courtroom and using the Truth in Lending Act as my defense for the 4 year statute. I chickened out and agreed to a settlement for $1500 (on a $3000 suit). I'm wondering if i could have won and had to pay nothing or I made the right decision by settling for 1/2. I think the w&a attny thought i had a good chance of winning is why she offered a last minute settlement.
I have other bad debts and have an attny trying to contact me to collect on another debt. I dont know what debt its for b/c i havent returned any of the calls (im scared to) and they havent sent me anything in the mail. I do know that whatever it is for its beyond 4 years b/c i had my financial trouble in 2002. Im wondering if this attny sues, if i should actually fight this one in court and use the SOL and Truth in Lending Act and argue that the debt is uncollectable.
Thanks, answer me back!