Re: sol in oklahoma

Posted by LadynRed (68.52.127.174) on June 08, 2004 at 22:59:50:

In Reply to: Re: sol in oklahoma posted by jen on June 08, 2004 at 22:23:34:

Credit cards are defined as open-ended accounts in the FEDERAL Truth in Lending Act. I suggest you take a copy of the TILA and show it to your OKIE lawyers - enligten them. Its not unusual for non-consumer lawyers to NOT know that credit cards are NOT written contracts - you have to educate them with the Federal law.

http://www4.law.cornell.edu/uscode/15/1602.html

"Sec. 1602. - Definitions and rules of construction

(i)

The term ''open end credit plan'' means a plan under which the creditor reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and which provides for a finance charge which may be computed from time to time on the outstanding unpaid balance. A credit plan which is an open end credit plan within the meaning of the preceding sentence is an open end credit plan even if credit information is verified from time to time."

I would appeal the Judgment ASAP - ASSET pulled a fast one on you.

Follow Ups:

Post a Followup