Legal Question in Credit and Debt Law in California
Statutute of Limitation
What is the SOL for a credit card account in California and what starts it? Please comment on Tsegeltos vs RNB Inc case where it states the SOL is started with the last payment on a MUTUAL, CURRENT and OPEN account. So if the account is frozen, with a 0 credit limit and payment never brings the account current does the SOL start with the last payment or with the first 30 day late when the account was MUTUAL, CURRENT and in good standing? So wouldn't the first breach of contract be when the account goes into default and is never returned to a positive account?
2 Answers from Attorneys
Re: Statutute of Limitation
Either 2 years if there is no signed contract and 4 years if there is a breach of a written contract from the date of the breach. Contact our office at 714 363 0220 if you have any other questions.
Re: Statutute of Limitation
Generally, the statute of limitations on a credit card debt runs from the last payment made on the account. The "payment" referred to is the last payment you made on the account before your account went into default. Your reference to Tsegeltos vs RNB Inc is somewhat confusing. After searching several databases in Westlaw for the case you cite, no case was found. Without more information on the case you are talking about, what the terms "MUTUAL, CURRENT and OPEN" mean are anybody's guess.
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