GulfBreeze
Member
What is the name of your state? FL
Even though I reside in Florida, I am being sued over a credit card debt, that according to the Terms and Agreement, it says that Federal laws & VA laws apply. That being the case, the requirement of selecting the particular type of debt is required. In VA, you must select one of the 4 choices on a Warrant in Debt (form DC-412). On page one of the complaint, there are check boxes for these choices: Open Account, Contract, Note, & Other. Now, since there is obviously a choice for Open Account, could it not be argued that VA recognizes credit cards as OPEN ACCOUNTS?
Unlike FL where an written instrument may argued making it a longer SOL in the state, depending on interpretation, VA affords you the ability to prove that no contract exists since most only have little if any as regards to proof. The argument would then be, that since credit cards are accounts that have no set amounts as found on a contract, expect repeated use, no ending dates, etc etc as found on traditional contracts (eg. car loans, mortgage loans). People have argued that the TILA assets that credit cards are viewed as "open-ended" accounts.
The SOL in VA for claims found on a contract is 5 years, but if not found on a written contract, it's 3 years. Since no contract can be found, the Plaintiff would have to select the Open, thus making it a 3 year SOL. Of course they could select the OTHER and make it a 2 year "catch-all" SOL claim.
The purpose of this thread is to discuss what VA views credit cards as to respects to the need for selecting the type on the Warrant in Debt. I'd like to see what people think and their explanation for why they feel it deserves OPEN or CONTRACT. (remember what elements are needed to be defined as a contract). Thanks....
Even though I reside in Florida, I am being sued over a credit card debt, that according to the Terms and Agreement, it says that Federal laws & VA laws apply. That being the case, the requirement of selecting the particular type of debt is required. In VA, you must select one of the 4 choices on a Warrant in Debt (form DC-412). On page one of the complaint, there are check boxes for these choices: Open Account, Contract, Note, & Other. Now, since there is obviously a choice for Open Account, could it not be argued that VA recognizes credit cards as OPEN ACCOUNTS?
Unlike FL where an written instrument may argued making it a longer SOL in the state, depending on interpretation, VA affords you the ability to prove that no contract exists since most only have little if any as regards to proof. The argument would then be, that since credit cards are accounts that have no set amounts as found on a contract, expect repeated use, no ending dates, etc etc as found on traditional contracts (eg. car loans, mortgage loans). People have argued that the TILA assets that credit cards are viewed as "open-ended" accounts.
The SOL in VA for claims found on a contract is 5 years, but if not found on a written contract, it's 3 years. Since no contract can be found, the Plaintiff would have to select the Open, thus making it a 3 year SOL. Of course they could select the OTHER and make it a 2 year "catch-all" SOL claim.
The purpose of this thread is to discuss what VA views credit cards as to respects to the need for selecting the type on the Warrant in Debt. I'd like to see what people think and their explanation for why they feel it deserves OPEN or CONTRACT. (remember what elements are needed to be defined as a contract). Thanks....
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