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Re: line of credit
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Posted by Keyser Soze
(152.163.189.170) on March 04, 2003 at 05:56:14:
In Reply to: line of credit posted by scott on March 04, 2003 at 01:31:12:
Sounds as if it's open account, though I know enough to reveal myself as a fool. What's unsettling about this is it sounds as if the CA's are grabbing some extra time on the SOL by calling everyting a written contract and the legislatures and/or courts are letting them get away with it.
Here in pseudo 'debtors' haven' FL, a credit card is four year SOL, yet just try to find a lawyer who will agree, much less defend you. THey claim five year, the 'written application' is considered a written contract, even though only you sign it, etc. etc.
Thank you bankers' lobby. Makes the case for stuffing cash in your mattress.
Keyser Soze
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