statute of limitation

[joemuni]

What is the name of your state? What is the name of your state? new jersey
I have credit card debts that I been carrying for several years, and only making minimun payments. Does statute of limitation of 6 years for NJ apply to credit cards, and how would it work in a BK case (Do creditors have records going back several years, or do I have to produce bills from years ago ? )

 

[justathought]

I can't answer your BK issue, but if you've been making payments on the credit cards all along, the SOL clock hasn't started ticking yet.

 

[Ladynred]

I'm not sure I understand the bankruptcy portion of your question in relation to the SOL question.

justathought is correct, the SOL doesn't START until you STOP paying on the bills.

Bankruptcy, for the most part, doesn't care anything about the SOL, all it does is wipe out all unsecured debt, regardless of how long you've had it. They do recommend, however, that you stop making ALL payments on everything you want to be free of and advise you to wait at least 90 days after stopping payments before you file for bankruptcy.