Statute of limitations on credit card debt

[nivek48]

What is the name of your state? Florida
How long does the statute run on unsecured credit card debt, and where can I find case law to submit to the judge- we have Zombie debt thats been bought out by an investment LLC.

 

[Ladynred]

In FL, the SOL is 4 years for 'open accounts' and 5 for written contracts. In general, judges in FL are ruling that credit cards are written contracts and fall under the 5 year SOL. Recently though there is case law that supports the 4 year SOL for STORE accounts.

So, what type of card was it and how long ago did you last pay the original creditor ?

 

[nivek48]

In FL, the SOL is 4 years for 'open accounts' and 5 for written contracts. In general, judges in FL are ruling that credit cards are written contracts and fall under the 5 year SOL. Recently though there is case law that supports the 4 year SOL for STORE accounts.

So, what type of card was it and how long ago did you last pay the original creditor ?

The specific card in question is a shell gas card, with the last payment made in June of 2001. The Shell Card debt was bought out by a investment partnership partnered with a collections lawyer. I requested any form written evidence (like a signed credit card slip or another written signed doccument, but they could not produce it, so we refused to pay anytihing to them in mediation, electing to allow a judge to determine the case. We have about 17 accounts on credit cards from the same timeframe (department stores, gas cards, phone cards, etc), most of which were reported as charged off and bought out by collection companies. The largest accounts were with American Express (2), for $17K & $11K respectively. American express did not sell off the accounts, and heve recently sent us an offer to get a "new" card with them (not disclosing that the old card debts would roll over on to the new card).
We don't want any credit. We are fairly judgement proof, as our home is homesteaded, I am the sole provider for my family, and both my wife and I have serious health issues.
Thanks for your kind response to our inquiry. Any further information would be greatly appreciated!
nivek48

 

[TigerD]

We don't want any credit. We are fairly judgement proof, as our home is homesteaded, I am the sole provider for my family, and both my wife and I have serious health issues.

I say don't worry about it -- the creditors will take their judgment and get paid from your estate when you die. The debt is in the SOL since it has already gone to court -- the SOL stops running when the case was filed.

Since you are judgment proof, why even bother responding? Just ignore them.

DC