Re: Collection limits on OC
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Posted by Why Chat (18.104.22.168) on September 19, 2002 at 14:43:10:
In Reply to: Collection limits on OC posted by jm10101 on September 19, 2002 at 14:05:27:
Because a loan is unsecured does not make it an "open" loan under the SOL rules. If it is for a fixed term, with a fixed rate of interest it is usually considered as a written contract.In addition, if it is "under seal" it may be covered under an even longer SOL.
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