Re: Credit card open or written account?

Posted by scott (65.25.97.197) on September 10, 2003 at 16:22:31:

In Reply to: Credit card open or written account? posted by Chris Frazier on September 10, 2003 at 15:55:55:

credit cards are open ended accounts. once in awhile you will get an ignorant judge who will rule otherwise. Your card went into default 180 days before the chargeoff date. here are some links.
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http://www4.law.cornell.edu/uscode/15/1602.html

TITLE 15 > CHAPTER 41 > SUBCHAPTER I > Part A > Sec. 1602.
f(2)
i
k
l
print out the entire section but underline those paragraphs. they define a credit card as open ended and l even says an accepted credit card is one that is signed for.
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http://www.ftc.gov/bcp/conline/pubs/credit/fcb.htm

The law applies to "open end" credit accounts, such as credit cards, and revolving charge accounts - such as department store accounts. It does not cover installment contracts - loans or extensions of credit you repay on a fixed schedule.
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I would call the courthouse and ask if it is not too late to file a countersuit for violations of the fdpca. see what they say and if ok come back here and I will point out the caselaw and violations.

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