Statute of Limitations

Can anyone tell me the statue of lim. on credit cards in New Jersey,and also what the term latches means? I am being taken to court for a credit card debt that is over 10 yrs old that hasnt had a payment sent in since 1994. Any help would be appreciated.

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by Goldngirl:
Can anyone tell me the statue of lim. on credit cards in New Jersey,and also what the term latches means? I am being taken to court for a credit card debt that is over 10 yrs old that hasnt had a payment sent in since 1994. Any help would be appreciated.<HR></BLOCKQUOTE>

My response:

Since CC accounts are "open ended" accounts, New Jersey has a 4-year S.O.L. on such accounts, beginning from the last date of payment on the account.

"Laches" is an equitable defense; e.g., an affirmative defense to a complaint, which informs the court, if proven, that the Plaintiff is not entitled to relief because too much time has elapsed; i.e., that the Plaintiff has "sat on his rights" without exercising such rights when he could have.

IAAL

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[This message has been edited by I AM ALWAYS LIABLE (edited June 08, 2000).]