collection companies?

[librarycard]

What is the name of your state?OH
Anyone here ever heard of or dealt with Merchants Credit Guide Co. (Chicago, IL)or Asset Management Services (Scyosset, NY)? I recently received a call from a collector (I'm assuming..he didn't identify himself) on my machine..he seemed to think someone had picked up the phone and said,"Hello, Hello...I can hear you on the phone..hello...run away" What the heck? Run away? I've been getting letters from Merchants Credit Guide Co for a debt that is at least 11 years old. Isn't the sol in Ohio for credit cards 6 years? I understand they can still sue, but the case would be dismissed once I revealed it was an expired debt. THanks!!

[stevek3]

Originally Posted by librarycard

What is the name of your state?OH
Anyone here ever heard of or dealt with Merchants Credit Guide Co. (Chicago, IL)or Asset Management Services (Scyosset, NY)? I recently received a call from a collector (I'm assuming..he didn't identify himself) on my machine..he seemed to think someone had picked up the phone and said,"Hello, Hello...I can hear you on the phone..hello...run away" What the heck? Run away? I've been getting letters from Merchants Credit Guide Co for a debt that is at least 11 years old. Isn't the sol in Ohio for credit cards 6 years? I understand they can still sue, but the case would be dismissed once I revealed it was an expired debt. THanks!!

The statute of limitations is 15 years, assuming it's a typical written credit card agreement. Push came to shove, if it was ever sued upon and you contested it, it's highly unlikely they would be able to produce the underlying signed written contract. They'd likely sue under claims of breach of contract and money owed upon an account. Being unable to produce the written contract, the 6-year statute of limitations on an account would probably prevail.

Regardless, what you received was a call from an autodialer.

[librarycard]

Where do I find the statute of limitations? I've seen two websites that specifically listed credit cards for ohio, and they said 6 years, but bankrate only has the 15 year sol with no credit card distinction.
thanks

[stevek3]

Originally Posted by librarycard

Where do I find the statute of limitations? I've seen two websites that specifically listed credit cards for ohio, and they said 6 years, but bankrate only has the 15 year sol with no credit card distinction.
thanks

I have been unable to find one single solitary published Ohio opinion that a written credit card agreement is anything but a contract in writing subject to the 15-year statute of limitations. Ignore those websites out there. If you really want to make some productive use of sites written by mental midgets located in every state OTHER than Ohio, then print out the pages and pretend they're Charmin. However, please do yourself a favor and be absolutely certain you first fill your paper tray with some premium 32 lb. paper. Otherwise, you may experience some discomfort.

If you want to read the statute itself, it is Ohio Revised Code Section 2305.06.

[stevek3]

Originally Posted by ihatearizona

I guess EVERY website out there is wrong and you are right???

Yes, that's exactly what I said, Genius.

Much like those sites that spit out non-existent statutes and non-existent case law, you have a weird compulsion to read and restate words that never were said in the first place.

[Tayla]

And to think there are banks out there using the disguise of REVOLVING credit ,(aka OPEN END ACCOUNTS) tsk tsk! (Pstt wonder why they use South Dakota and Deleware then as the corporate offices).

[stevek3]

Originally Posted by Tayla

And to think there are banks out there using the disguise of REVOLVING credit ,(aka OPEN END ACCOUNTS) tsk tsk! (Pstt wonder why they use South Dakota and Deleware then as the corporate offices).

It's because when they established themselves, Delaware was the location of the best corporation laws on the planet and South Dakota was the location of the best banking laws on the planet. So?

[Ladynred]

They use SD and Delware because those states have NO USUARY laws !!!!

SOL on credit cards in OH is 6 years max.. some will argue its only 4 as that is also in their statutes.

[stevek3]

Originally Posted by Ladynred

They use SD and Delware because those states have NO USUARY laws !!!!

SOL on credit cards in OH is 6 years max.. some will argue its only 4 as that is also in their statutes.

There you go again. No, it is NOT in the statutes. Stop making stuff up. Not only is it not in the statutes, there is not even one single published Ohio case ANYWHERE in Ohio saying it is anything but 15 years. Not one Ohio Supreme Court case, not one single reported case from any of the 12 state appellate courts, not one single unreported case from any of the 12 state appellate courts, not even a single stray reported or unreported case from the state trial court level. Absolutely nothing found on Westlaw, absolutely nothing found on Lexis. Nothing. Nada. Zero.

If you can provide even ONE reported Ohio case from any of the 12 appellate courts to support your assertion, then cite it. Otherwise, stop doing that outrageously phony Miss Cleo fake Jamaican law psychic thing. I'm getting sick and tired of seeing it. Hey, I really like smoking the weed with you, but that ridiculous Jamaican disbarred lawyer accent just has to go.

[Ladynred]

DEFINITION IN OHIO CODE EXCLUDING CREDIT CARDS AS WRITTEN CONTRACTS

1335.02 Loan agreements with financial institution.


Text of Statute

(A) As used in this section:
(1) "Debtor" means a person that obtains credit or seeks a loan agreement with a financial institution or owes money to a financial institution.
(2) "Financial institution" means either of the following:
(a) A federally or state-chartered bank, savings bank, savings and loan association, or credit union, or a holding company, subsidiary, or affiliate of a bank, savings bank, or savings and loan association;
(b) A licensee under sections 1321.01 to 1321.19 of the Revised Code, or a registrant under sections 1321.51 to 1321.60 of the Revised Code, or a parent company, subsidiary, or affiliate of a licensee or registrant.
(3) "Loan agreement" means one or more promises, promissory notes, agreements, undertakings, security agreements, mortgages, or other documents or commitments, or any combination of these documents or commitments, pursuant to which a financial institution loans or delays, or agrees to loan or delay, repayment of money, goods, or anything of value, or otherwise extends credit or makes a financial accommodation. "Loan agreement" does not include a promise, promissory note, agreement, undertaking, or other document or commitment relating to a credit card, a charge card, a revolving budget agreement subject to section 1317.11 of the Revised Code, an open-end loan agreement subject to section 1321.16 or 1321.58 of the Revised Code, or an open-end credit agreement subject to section 1109.18 of the Revised Code.


§ 1109.18 Revolving credit agreements.
(A) A bank may extend credit to a customer pursuant to a revolving credit agreement allowing the customer to access the credit from time to time, subject to a limitation on the outstanding balance of the credit accessed and without regard to whether the customer has previously accessed and repaid the credit. A revolving credit agreement may authorize the customer to access the credit extended by either or both of the following:
(1) Purchasing goods or services from a seller by means of the bank's commitment to advance to the seller the payment for the goods and services purchased by the customer;
(2) Obtaining an advance of funds by the bank or by another in reliance on the bank's commitment to pay the funds advanced to the customer.
(B) The terms of a revolving credit agreement may permit the bank to charge, collect, and receive any finance charge or other fee or charge permitted by section 1109.20 of the Revised Code. A revolving credit agreement shall specify the manner in which the bank will compute the loan balance on which interest and finance charges are assessed as permitted by section 1109.20 of the Revised Code. A revolving credit agreement may permit the bank to charge a minimum monthly finance charge of one dollar for any month for which there is an unpaid balance on the customer's account.
(C) The bank shall supply to its customer under a revolving credit agreement a statement as of the beginning or end of each period in which there is any unpaid balance on the customer's account, which period may be a calendar month or other regular period not in excess of thirty-one days. The statement shall include the following:
(1) The unpaid balance under the agreement at the beginning and end of the period;
(2) The date and amount of each advance made by the bank for the account of the customer during the period;
(3) The cash purchase price and the date of each purchase of goods or services with respect to which advances for the account of the customer were made during the period;
(4) All payments made by the customer to the bank and any other credits to the customer during the period;
(5) The amount of all charges made against the customer during the period;
(6) A legend to the effect that the customer may at any time pay the unpaid balance without incurring further charges. HISTORY: 146 v H 538. Eff 1-1-97.

If its not considered to be a written contract, then the 15 year statute won't apply.

And then there's these references elsewhere:

[url]http://www.carreonandassociates.com/articles/statute.htm#Ohio[/url]

STATE: OHIO

INTEREST RATE
Legal: 10%
Judgment: 10%

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 6
Sales Contract (UCC2-725)
Written Contract: 15
Domestic Judgment: 21 renew every 5
Foreign Judgment: 21 renew every 5

Or this one:
[url]http://www.sec-claims.com/statutes.htm[/url]

1 Year

Assault and Battery; §2305.11(1)
Libel and Slander; §2305.11(A)
Medical Malpractice; §2305.11(13)

2 Years

Personal Injuries; §2305.10
Property Damage; §2305.10
Wrongful Death; §2125.502(D)

6 Years

Oral Contracts; §2305.07

15 Years Written Contracts; §2305.06

Any law student knows that there will be no case law where the cases are not heard in a court of record and most credit lawsuits happen in small claims court - ie - NO RECORD.

[librarycard]

Ok, what about if the credit card account was opened in TN, no idea when it was actually opened but dla was in '93. Now I reside in Ohio. Oh, and get this..the collection is FOR a collection company. I don't get it..one collection company buys out an old charged off cc, then hires another company to do the dirty work? From what I've seen, both of the companies have quite a reputation for attempting to collect on expired debts (I know, it's not against the law for them to try) and for making ridiculous threats of arrest, foreclosure, etc. Not to mention being just plain rude.

[stevek3]

Originally Posted by Ladynred

DEFINITION IN OHIO CODE EXCLUDING CREDIT CARDS AS WRITTEN CONTRACTS

1335.02 Loan agreements with financial institution.


Text of Statute

(A) As used in this section:
(1) "Debtor" means a person that obtains credit or seeks a loan agreement with a financial institution or owes money to a financial institution.
(2) "Financial institution" means either of the following:
(a) A federally or state-chartered bank, savings bank, savings and loan association, or credit union, or a holding company, subsidiary, or affiliate of a bank, savings bank, or savings and loan association;
(b) A licensee under sections 1321.01 to 1321.19 of the Revised Code, or a registrant under sections 1321.51 to 1321.60 of the Revised Code, or a parent company, subsidiary, or affiliate of a licensee or registrant.
(3) "Loan agreement" means one or more promises, promissory notes, agreements, undertakings, security agreements, mortgages, or other documents or commitments, or any combination of these documents or commitments, pursuant to which a financial institution loans or delays, or agrees to loan or delay, repayment of money, goods, or anything of value, or otherwise extends credit or makes a financial accommodation. "Loan agreement" does not include a promise, promissory note, agreement, undertaking, or other document or commitment relating to a credit card, a charge card, a revolving budget agreement subject to section 1317.11 of the Revised Code, an open-end loan agreement subject to section 1321.16 or 1321.58 of the Revised Code, or an open-end credit agreement subject to section 1109.18 of the Revised Code.


§ 1109.18 Revolving credit agreements.
(A) A bank may extend credit to a customer pursuant to a revolving credit agreement allowing the customer to access the credit from time to time, subject to a limitation on the outstanding balance of the credit accessed and without regard to whether the customer has previously accessed and repaid the credit. A revolving credit agreement may authorize the customer to access the credit extended by either or both of the following:
(1) Purchasing goods or services from a seller by means of the bank's commitment to advance to the seller the payment for the goods and services purchased by the customer;
(2) Obtaining an advance of funds by the bank or by another in reliance on the bank's commitment to pay the funds advanced to the customer.
(B) The terms of a revolving credit agreement may permit the bank to charge, collect, and receive any finance charge or other fee or charge permitted by section 1109.20 of the Revised Code. A revolving credit agreement shall specify the manner in which the bank will compute the loan balance on which interest and finance charges are assessed as permitted by section 1109.20 of the Revised Code. A revolving credit agreement may permit the bank to charge a minimum monthly finance charge of one dollar for any month for which there is an unpaid balance on the customer's account.
(C) The bank shall supply to its customer under a revolving credit agreement a statement as of the beginning or end of each period in which there is any unpaid balance on the customer's account, which period may be a calendar month or other regular period not in excess of thirty-one days. The statement shall include the following:
(1) The unpaid balance under the agreement at the beginning and end of the period;
(2) The date and amount of each advance made by the bank for the account of the customer during the period;
(3) The cash purchase price and the date of each purchase of goods or services with respect to which advances for the account of the customer were made during the period;
(4) All payments made by the customer to the bank and any other credits to the customer during the period;
(5) The amount of all charges made against the customer during the period;
(6) A legend to the effect that the customer may at any time pay the unpaid balance without incurring further charges. HISTORY: 146 v H 538. Eff 1-1-97.

If its not considered to be a written contract, then the 15 year statute won't apply.

And then there's these references elsewhere:

[url]http://www.carreonandassociates.com/articles/statute.htm#Ohio[/url]


Or this one:
[url]http://www.sec-claims.com/statutes.htm[/url]


Any law student knows that there will be no case law where the cases are not heard in a court of record and most credit lawsuits happen in small claims court - ie - NO RECORD.

Sweetie, you truly have no idea what you're talking about. He is merely forcing his own personal opinion down people's throats. Do you understand *anything* about the significance of case law? The ENTIRE American legal system REVOLVES around case law. Do you understand what a reported case is? Do you understand what an unreported case is? Do you understand what a case of first impression is? Do you understand how courts are obligated to render opinions and reach decisions? Nope, didn't think so.

By the way, DEFINITION IN OHIO CODE EXCLUDING CREDIT CARDS AS WRITTEN CONTRACTS is total baloney language that dufus running the WebTV site added himself.

[stevek3]

Originally Posted by librarycard

Ok, what about if the credit card account was opened in TN, no idea when it was actually opened but dla was in '93. Now I reside in Ohio. Oh, and get this..the collection is FOR a collection company. I don't get it..one collection company buys out an old charged off cc, then hires another company to do the dirty work? From what I've seen, both of the companies have quite a reputation for attempting to collect on expired debts (I know, it's not against the law for them to try) and for making ridiculous threats of arrest, foreclosure, etc. Not to mention being just plain rude.

Why don't you ask Lady in Red? Obviously, case law is for losers. The courts just make their decisions on a whim. No cites necessary.

Looking here in my old-fashioned paper annotations in the publications sitting by the parrots in my den, it appears from the cites that under Ohio's choice-of-law rules, a creditor could choose Ohio's procedural rules, which would include the longer statute of limitations.

Anyway, bottom line is you shouldn't be all that concerned. I haven't been able to find even one Ohio court docket that shows them as being a plaintiff.

[stevek3]

Originally Posted by stevek3

Sweetie, you truly have no idea what you're talking about. He is merely forcing his own personal opinion down people's throats. Do you understand *anything* about the significance of case law? The ENTIRE American legal system REVOLVES around case law. Do you understand what a reported case is? Do you understand what an unreported case is? Do you understand what a case of first impression is? Do you understand how courts are obligated to render opinions and reach decisions? Nope, didn't think so.

By the way, DEFINITION IN OHIO CODE EXCLUDING CREDIT CARDS AS WRITTEN CONTRACTS is total baloney language that dufus running the WebTV site added himself.

Oh, I neglected to mention: Until a few years ago, no Ohio plaintiff was even allowed to file more than 24 small claims cases in any one calendar year. Banks rarely file actions in any Ohio small claims court to begin with. And all assignees are BARRED from bringing an action in an Ohio small claims court.

Not to be redundant, but PLEASE start talking about matters you actually have experience in and know something about. If I recall, you said you work with medical bills, or something. Perhaps you can direct me to some unbiased websites where I can buy some of those cute little Band-Aids with the cartoon characters on them. Right now, I'm looking for some pink Bugs Bunny finger Band-Aids for my nieces.