Re: Why Chat in Conclusion...
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Posted by Why Chat (209.240.198.61) on October 11, 2003 at 20:46:31:
In Reply to: Why Chat in Conclusion... posted by appleclean on October 11, 2003 at 20:15:23:
I assume you have filed an afirmative defense of SOL in your answer? If so, then all you need are the printouts of the TILA and Fl.95.11 AND:
687.0304 Credit agreements.--
(1) DEFINITIONS.--For the purposes of this section:
(a) "Credit agreement" means an agreement to lend or forbear repayment of money, goods, or things in action, to otherwise extend credit, or to make any other financial accommodation.
(b) "Creditor" means a person who extends credit under a credit agreement with a debtor.
(c) "Debtor" means a person who obtains credit or seeks a credit agreement with a creditor or who owes money to a creditor. (2) CREDIT AGREEMENTS TO BE IN WRITING.--A debtor may not maintain an action on a credit agreement unless the agreement is in writing, expresses consideration, sets forth the relevant terms and conditions, and is signed by the creditor and the debtor. (3) ACTIONS NOT CONSIDERED AGREEMENTS.--
(a) The following actions do not give rise to a claim that a new credit agreement is created, unless the agreement satisfies the requirements of subsection (2):
1. The rendering of financial advice by a creditor to a debtor;
2. The consultation by a creditor with a debtor; or
3. The agreement by a creditor to take certain actions, such as entering into a new credit agreement, forbearing from exercising remedies under prior credit agreements, or extending installments due under prior credit agreements.
(b) A credit agreement may not be implied from the relationship, fiduciary, or otherwise, of the creditor and the debtor. Make sure ALL your material including your answer and defense (if you have not filed one properly) is in triplicate.
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