Re: Why Chat -- please help on exhibits
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Posted by Why Chat (209.240.205.61) on February 08, 2004 at 20:50:00:
In Reply to: Why Chat -- please help on exhibits posted by MCM bait on February 08, 2004 at 10:51:05:
I do not wish to continue to have a "flame war" with Parry on the topic of SOL,and the definitions of State statutes on "written contracts" he/she is entitled to believe that there is no Federal preemption, and that the TILA and State laws on consumer protection do not exist, suffice to say that it would not change the nature of a credit card open end agreement if an application was signed in BLOOD. As to your concern about your payment after default, it depends on what exactly the creditor did with your account. If your bills continued to show you as past due, if additional late charges continued on your bill, then the FIRST late month was the start of your SOL, since ILL. is a cause of action accrual State, which means the first Month the creditor was entited to filesuit against you for breach of the credit agreement is the Month the SOL started. HOWEVER, the creditor was also allowed to re-age your account LEGALLY by accepting a payment and bringing your account up to date with that payment. IF that was done, your subsequent billing statements would NOT show a past due amount or late charges. IF you have any of your bills from that time, you should be able to tell what was done. In addition, you may wish to read the Ill. statutes relating to credit cards,linked below (which include a prohibition against re-aging unless it is by written agreement signed by both creditor and debtor and showing the terms of the agreement clearly)
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