Re: 7 year credit card debt - KY Statute

Posted by LadynRed (199.91.33.254) on February 13, 2003 at 12:56:32:

In Reply to: Re: 7 year credit card debt posted by Destiny on February 13, 2003 at 12:40:09:

Kentucky: Ky. Rev. Stat. Ann. §371.010(9) (Michie Supp. 1995)

(9) Upon any promise, contract, agreement, undertaking, or commitment to loan money, to
grant, extend, or renew credit, or make any financial accommodation to establish or assist
a business enterprise or an existing business enterprise including, but not limited to the
purchase of realty or real property, but this subsection shall not apply to agreements
pursuant to which credit is extended by means of a credit card or similar device, or to
consumer credit transactions; ***unless the promise, contract, agreement, representation,
assurance, or ratification, or some memorandum or note thereof, be in writing and signed
by the party to be charged therewith, or by his authorized agent*****. It shall not be necessary
to express the consideration in the writing, but it may be proved when necessary or
disproved by parol or other evidence."

In other words - no written agreement signed by you, no restart of the SOL in KY - not that it matters all that much, they'd have to sue you in FL anyway so FL laws would apply.

You don't have to pay. Don't TALK to them again, just send out the letter today !

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