Re: timeline for collections and suits

Posted by Why Chat (209.240.198.61) on August 06, 2003 at 17:30:58:

In Reply to: Re: timeline for collections and suits posted by scaredmommy on August 06, 2003 at 16:35:21:

Most likely they returned it to Providian because they were not authorized to collect in your State.

Here are some Neb. laws to keep in mind, I agree they likely won't sue, UNLESS they are your only defaulted account and your credit report shows you current on all others.

NEBRASKA

STATUTE OF LIMITATIONS
Open Acct.: 4(credit card)

Domestic Judgment: 5 renewable every 5

GENERAL GARNISHMENT EXEMPTIONS
Greater of 75% disposable earnings (85% if head of household), or 30 x fed. minimum hourly wage.

COLLECTION AGENCY BOND & LICENSE Bond:Yes
License: Yes

Exemption for out-of-state collectors:

Out-of-state collectors are exempt if

[1] communicating by interstate means (phone, fax, mail); and

[2] are "regulated" by the laws of another state.

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