Am I beig lied to by this third party lawyer?

What is the name of your state? Florida
He said my cc is an written contract and the sol is 5 years. I tell him it is an open end contract and sol is 4 years and that it has run its course. He says the judge will agree with him and place a judgement on me. Has he told me a lie?
Is there any case law I could use to help my case concerning whether cc are open end contracts or not. What judges have ruled in the past.. pro or con.. ? thanks in advance for any replys to this post

[bigun]

I'm not a lawyer but, I can tell you that the Truth In Lending Act {TILA} specifically defines a credit card debt as an open contract. You can do a "google search" and find many references to the TILA. Lawyers please correct me if I'm in error but it seems a Federal Statute would trump state law.

Thank you Bigun for your reply. I think this is a extremly important issue,whether cc are written or open contracts. Most states add one year to written contracts. People are going to court thinking they are going to win the day only to have the judge rule the cc is a written contract and the sol has not run its course. I have read other message boards where in fact this has happened. If anyone reading this thread has ever had a judge rule a cc is a written contract and lost thier court case I sure would like to hear about it. I will be searching google and reading up on the TILA.After all knowledge is power. thanks again Bigun

Is this 3rd party lawyer a collection agency or a real attorney? I would bet they are a collection agency. The new thing for these POS's, are to say they are calling from the law firm of ABC & Associates, just to sound official.

CC's are open ended, so don't pay any attention to the sleeze on the other end.

[Ladynred]

This is straight out of the Truth In Lending Act - Title 15 Chapter 31, Subchapter 1, Part A, Section 1602, Paragraph i :

"The term ''open end credit plan'' means a plan under which the creditor reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and which provides for a finance charge which may be computed from time to time on the outstanding unpaid balance. A credit plan which is an open end credit plan within the meaning of the preceding sentence is an open end credit plan even if credit information is verified from time to time. "

You might also note, in the same Section, Paragraph F, 2 - definition of 'creditor'.

Baylorbear
This is a law firm. I know for a fact. They buy these old accounts and try and to collect on their very insizeable investment.
So should one bring information from the Truth in Lending Act describing what an open contract is with them to court ? And where can one find info about sol ? WHAT i mean is legal info . State level. I reside in Florida. Thanks

[bigun]

Go to [url]www.creditnet.com[/url] now. There is a thread titled "Actual Statue of Limitations." The next to last message is from a lawyer who gives the specific statute in the Federal Code and gives a brief overview of the TILA as it pretains to credit card transactions.

Thanks Bigun for the url.
Was very informitive but.. I've come to the conclusion that no matter what proof you have that open end contracts are not written contacts, once that incompetent judge see's your signature on the credit card application.. bingo! Lights Out! Did you read in that thread where the girl from Washington State lost her small claim case. She tried to prove her case by using references from The Truth in Lending Act but to no avail.
So do I give up? Hell no!
I think what I need to do here is homework. need to trout on down to my library and start looking for case law. If I can find a case where the defendent won using sol as defense and arguing that cc are open end with four year sol,the judge will have to side with me.What do you think?

You know for a fact it is a law firm??
Most collection agency call themselves law firms to scare you. It looks like it's working.
Ask for their phone number. If it's a 800 line, with a four digit extension to your contact, it's a collection agency. If they have a PO Box, it's a CA. If the person you're talking to goes by Mr. or Ms. Somebody, it's a CA.

True Law Firms, don't threaten. Most don't even call, they send a letter via a courier. Don't be sucked in.

Yes this is a collection lawyer. How do I know? The name of the law firm representing the CA was listed on the summons I recieved two months ago.Second court date is coming up soon. First court date was a pre-trail,where we fail to negotiate a settlement.