credit card SOL in Florida

[jtouchton76]

undefinedWhat is the name of your state? Florida

Is there a sol on submitting cc charges to the card company? I made two purchases over 30 days ago that have just now appeared on my bill. The merchant just didn't send the charges in to the cc company. This ordinarily wouldn't be a big deal, but these two charges have now put me over my limit. I called the cc company (BofA) and was first told the sol is 30 days, then 60 days, THEN that there is no sol at all. I am confused and angry. Can someone please give me a straight answer?

 

[Some Random Guy]

And when you asked BofA for a credit limit increase or one time waiver of the over-limit fees what did they say? Did you sent a payment to BofA to get your balance dropped below the limit?

Hitting the limit on your CC is a sure sign that you need to reassess your finances and come up with a debt reduction plan.

 

[jtouchton76]

debt reduction plan

undefined Florida

I only found out about being over the limit at 10:00 last night. I did not ask for the credit line to increase, or for a waiver of the fee. My question was: How long can a vendor wait before submitting the charges to the cc company?

It is not a large balance when compared to most peoples debt. It only has a $1000 limit. To me, that amount was more than I needed when I got the card. My husband and I hit a spot of financial trouble that we are getting out of, but I had to put a few bills on the card in order to avoid losing things like, oh electricity and water. I CAN make the payments and AM making the payments on time. I just don't think that merchants should be able to submit charges whenever they feel like it. If we have to correspond with the cc companies in a timely manner, shouldn't the merchants have to do so as well?

 

[jtouchton76]

sorry, I forgot this part

undefined

Florida

Sorry, I forgot to include this part. The reason that the balance got so high in the first place, was not only the bills, but I used it for purchases during Hurricane Dennis. We were trying to conserve cash just in case Dennis turned out like Hurrican Ivan.
Also, the merchant/store in question is in Florida. I wanted to include that info because I've seen alot of multiple state SOL questions.

 

[notsmartmark]

I'm confused about your confusion and anger. You purchased something on credit and didn't see it on your next bill. So now, you're are angry because you think you should now get it for free? I don't believe this has anything to do w/ SoL. They haven't tried to claim you are late on your payment. This is the first reporting of your debt, and their first attempt to collect it. You're not contesting the purchase or going over your credit limit. You bought it; you need to pay for it. It just doesn't smell right that you are trying to get out of paying for it because it didn't show up on your next bill.

This was on the web, "It is rarely a good idea to decide not to pay a good debt if you are relying wholly on the statute of limitations, because there are more complicated issues involved, including when these may be tolled, or extended, or even when the statutory period has begun to run." - http://www.ago.state.ma.us/sp.cfm?pageid=1179

 

[jtouchton76]

not trying to get out of paying my debt!

Florida

I am not disputing that I made the charges. I am not disputing that I am now over my limit. My question was (AGAIN): How long do merchants have to submit charges to cc companies?

I am upset because when I checked my balance on Tuesday, those charges were not there and my balance was not over the limit. When I checked my balance on Thursday, the charges suddenly appeared and I was over my limit.
When I called the cc company to ask my question, the rep that I spoke with made me feel as if the whole situation was a bit shady because he could not give me a straight answer. First he said 30 days to submit, then he said 60 days to submit, THEN he said they can submit whenever they feel like it. All I need to know is HOW LONG DO THEY HAVE TO SUBMIT? I don't mean to be rude, but both replies to this post has insinuated that I am trying to get out of paying these charges, which is not the case at all! I am trying to prevent this situation from ever happening again by getting information, which is what I thought this site is for...LEARNING.

 

[notsmartmark]

The man's 3rd answer is the correct one, "they can submit whenever they feel like it." Posting the bill late has no natural benefit for the point-of-sale company or your credit card company. If they posted it on Tuesday, you would have still been over your credit line and they are losing days toward interest. The consumer is typically the beneficiary of late posting.

If you have been typically good with your payments, call your credit card company and request forgiveness. They can eliminate add-on charges for going over, if there are any charges, and more importantly, they can stop your percentage rates from rising for going over your credit limit.

 

[jtouchton76]

Thanks Mark!

Florida

Thanks for answering my question, Mark. That is all I wanted to know. It would seem to me that it is irresponsible on the part of the merchant to post at irregular times. I have never heard of any merchant taking so long to submit charges, and I am a little shocked by it. But as I stated before, I am paying my bill, and I am paying it on time. I never tried to dispute the charges because I indeed did make them. I was just trying to get my question answered, so thank you for answering it.

TO ALL READERS:
I have noticed in reading other posts that alot of times the person with the question is treated like someone who runs up loads of bills and then decides not to pay them on purpose. Please keep in mind how you would feel if someone made that kind of judgement about you and it wasn't true. I know you are probably thinking " I don't care what they think!" But the fact is, it is in our nature to want be be accepted and rejection hurts no matter who you are. So please be kind. I realize that there are deadbeats out there who are financially irresponsible, but not everyone who posts on this forum is like that. Please keep that in mind the next time someone is asking for help.