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  #1  
Old 01-06-2008, 06:45 PM
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Join Date: Jan 2008
Posts: 4

illinois SOL: written vs. open


What is the name of your state? illinois

being sued by a major credit card via a local attorney.
last date of transaction is in mid-1998.

problem: the SOL on written contracts is 10 years in illinois, regardless of TILA. credit cards are considered written, not open contracts. i am a few months shy of 10 years, so i'm hoping to assert that my credit card was an open/revolving agreement...and thus, carries a 5 year SOL.

any successes with this defense?
any resources to help support this?

thanks!
  #2  
Old 01-06-2008, 06:49 PM
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Join Date: Jul 2005
Location: Missouri
Posts: 3,803
No you are wrong.

Use the search feature -- look for debt guy's posting on the subject.

DC
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Three books every person should read cover to cover at least once: The Richest Man in Babylon, The Complete Works of Shakespeare and the King James Bible. -- If you can't learn how to live a happy successful life from those books, you are beyond hope.

Quote:
OP needs counseling...not a court house. --Zigner
  #3  
Old 01-06-2008, 06:55 PM
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Join Date: Jan 2008
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Quote:
Originally Posted by debtcollector` View Post
No you are wrong.

Use the search feature -- look for debt guy's posting on the subject.

DC
really? here's what i found:

Quote:
Originally Posted by debtcollector` View Post
A credit card is based on a written contract and is 10 years.

DC
looks like i'm right then.
could you link me to what you're referring to?
  #4  
Old 01-06-2008, 10:26 PM
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Join Date: Jul 2005
Location: Missouri
Posts: 3,803
Okay, I misunderstood you. You are correct. It is a written agreement. I read the posting to mean you were attempting to argue it otherwise.

DC
__________________
Three books every person should read cover to cover at least once: The Richest Man in Babylon, The Complete Works of Shakespeare and the King James Bible. -- If you can't learn how to live a happy successful life from those books, you are beyond hope.

Quote:
OP needs counseling...not a court house. --Zigner
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