Revolving Line of Account
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Posted by Sinting
(216.196.40.133) on February 21, 2004 at 17:30:58:
In Reply to: Re: statute of limitations in Ohio for credit cards posted by Why Chat on March 27, 2002 at 21:17:38:
"The fact that it is a revolving line of credit makes it an open account subject to the 4 year SOL in Ohio. " What does 'revolving line' mean ? Does it mean the 4 years SOL can reset itself once it's transferred to a CA or purchased by another creditor ? Sorry if my question sounds silly, I am only a freshman in collection law :)
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