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Re: Old Debt


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Posted by LadynRed (199.91.33.254) on January 08, 2003 at 14:49:31:

In Reply to: Re: Old Debt posted by anon on January 08, 2003 at 14:42:29:

Absolutely not. And it doesn't surprise me that the lawyer didn't get it right either.

The 15 year SOL is based on the assumption that a credit card is a WRITTEN contract. It is not. The Truth in Lending Act specifically defines credit cards as open ended accounts. Add to that that Ohio has a specific statement in its statutes that EXCLUDES credit cards from being written accounts, they then fall under the FOUR year SOL.

Check out the statute on WhyChat's site... he's got it right. Others here have fought and won this very issue in court.


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