Re: Credit Card SOL is based on Cardmember agreement?

Posted by Why Chat (209.240.198.61) on October 08, 2002 at 18:27:07:

In Reply to: Re: Credit Card SOL is based on Cardmember agreement? posted by esteven1 on October 08, 2002 at 17:56:00:

If it is a business credit card then it is possible your lawyer's opinion MIGHT be upheld in SOME courts, but I doubt it.In any case N.Y.'s "long arm statute" would not allow it.

If it is a consumer credit card, primarily used for personal charges, then the FDCPA Federal laws overrule any agreement.

Those rules State that actions can be brought either in the State where the credit agreement was signed, OR in the State of present residence. In other words, if it is a consumer credit card, they can sue you in NY,with the NY 6 year SOL prevailing.

In general, most lawyers have little knowledge or experience with consumer credit law.

Follow Ups:

Post a Followup