|
Debt Elimination Success Seminar
|
![]() |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statute of Limitations on Debt Collection
Section 1 A Look at Debt History of Debt Credit Card History Current State of Debt How You Got Into Debt Good Debt Bad Debt Business vs. Personal Debt Section 2 Dealing With Your Money The Two Step Plan
The Paths Out of Debt
Living Debt-Free
Section 3 Dealing With Your Creditors Alerts/Scams The Credit Industry
The Debt Collection Process
Dealing with Debt Collectors
Section 4 The Credit Report The Credit Report Credit Score Credit Repair Section 5 Dealing With Yourself The Critical Factor The Art of Prosperity The End of Failure Prosperity Coaching Section 6 Kids and Money Kids and Money How to Pay for College Section 7 Debt Information Bookstore Debt Facts Radio Show Resources About Us
If you find this information helpful I ask you to contribute to help me help more people. You can contribute through PayPal by clicking on this button Or you can mail in your contribution.
![]() |
The Federal Truth in Lending Act, Section 127 talks at length about credit cards as open accounts. However I have received some information recently indicating that some courts have ruled that credit cards are written accounts. So, as I'm not an attorney, I'm going to suggest that this area of the law seems to be fluid. Meaning that what your court rules may be based upon what evidence is presented and other factors. While the Federal Truth in Lending Act is written in legal terms, meaning good luck trying to read it, the The State of New Hampshire’s Department of Justice's Sourcebook has a very readable definition, check the second paragraph, of why credit card accounts are open-ended.
|
Statute of Limitations on Debt CollectionPlease Read The statute of limitations relates to a creditors right to sue to collect money. It, to the best of my knowledge, relates to the last time a payment was made, not when the debt was originally incurred. If a debt is beyond the statute of limitations collection activity may continue. You may even be sued. It is possible that unless you contest the suit a judgment will be rendered against you. If I were sued for a bill that was past the statute of limitations I would go to court and have the case dismissed by telling the judge, and providing evidence, that the statute of limitations had expired. If collection activity, calls and letters, continued after the statue of limitations had expired I’d notify the collection agency that I’m not paying the bill and that they should cease and desist with any further phone call. They can’t be stopped from sending letters but they are easy to throw away. Since the statute of limitations is measured from the time of the last payment, if the creditor can talk you into, or trick you into, making a payment they can and most likely will immediately sue you. Just because the statute of limitations has expired doesn’t mean you can’t pay the bill. If you choose to you may. Just be sure that you don’t open yourself up to legal action. Make sure that what ever you pay is accepted as payment in full for the bill. If you find this information helpful I ask you to contribute $1 (or more) to help me help more people. You can contribute through PayPal by clicking on this button Or you can mail in your contribution. |
|
|