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  1. #1
    Join Date
    Aug 2007
    Posts
    5

    Default Statute of Limitations in Georgia

    Can someone help me find the Statute of Limitations for credit card debt in Georgia? I have read that it is 4 years from date of default, but would like to find the "official" page stating this.

    Thanks

  2. #2
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Statute of Limitations in Georgia

    The problem is more & more courts including courts in Ga. are starting to consider credit cards (unless they are a store card) as written contracts with the longer SOL ( 6 yr SOL Ga.) instead of open accts. (4 yr SOL Ga). You might contact an attorney in your area to see how the courts in that area are handling credit cards.

    Georgia Statutes of Limitation

    Breach of any contract for sale: 4 years, (OCGA 11-2- 725) NOTE: Parties may reduce limitation to not less than one year, but not extend it. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.

    Contract, including breach of warranty or indemnity: 4 years, (OCGA 11- 22A-506) NOTE: The parties may reduce the period to one year.

    Written contract: 6 years from when it becomes due and payable and the six (6) year period runs from the date of last payment. (OCGA 9-3-24)

    Open account; implied promise or undertaking: 4 years, (OCGA 9-3-25). NOTE: Payment, unaccompanied by a writing acknowledging the debt, does not stopped the statute. Therefore, the statutory period runs from the date of default, not the date of last payment.

    Bonds or other instruments under seal, 20 years, (OCGA 9-3-23) NOTE: No instrument is considered under seal unless it’s stated in the body of the instrument.

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