SOL Current account? Whychat?
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Posted by anon
(68.1.145.177) on August 17, 2004 at 17:40:30:
I have been truely blessed by this board! I have one more question.... If the credit grantor closes the account to any further charges because it is late in payments and you start making payments but the account is never opened again...they don't charge it off, just let it sit in an unusable status. When does the SOL start? Is it the first 30 day late before they closed the account or the charge off date? The statute for Georgia says the sol starts at the "accrual of right of action". Does that mean the first time they could sue for breach of contract? Is the SOL an affirmative defence even if you have made some payments and they are reporting as paid as agreed but it shows closed by credit grantor?
Here is the statute:
9-3-26.
All other actions upon contracts express or implied not otherwise provided for shall be brought within four years from the accrual of the right of action. However, this Code section shall not apply to actions for the breach of contracts for the sale of goods under Article 2 of Title 11.
Thanks so much! Is there any case law or has anyone used this before?
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