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Statute of Limitations- high interest versus- my states max
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Posted by foxmore
on March 02, 2002 at 17:00:43:
I'm very confused on which state law to use regarding the sol. on my credit cards. Everyone says that it's your states sol. My state has a max. on how much interest can be charged on open accounts. I read an earlier post from graccy that said the state where the card was issued is the state you go by for the sol. Robert disputed this and said that states have there own laws to protect it's citizen. My states limit on interest charges has been surpassed greatly by these companies from delaware. If my states law is there to protect me, how can they over ride it and charge more interest. Wouldn't that mean there going by their own state law to get away with this? Basically, there picking and choosing which laws thy want to use. How can they use all the laws to there favor? thanks
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