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  1. #1
    Join Date
    Dec 2007
    Location
    Wisconsin
    Posts
    3

    Smile Statute of Limitations on Credit Card Lawsuits in Wisconsin

    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

  2. #2
    Join Date
    Sep 2007
    Posts
    110

    Default Re: What Is The WI Statute Of Limitation On How Long A CC Co Has To File Suite Agains

    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.

  3. #3
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: What Is The WI Statute Of Limitation On How Long A CC Co Has To File Suite Agains

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

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