Legal Question in Credit and Debt Law in Georgia

Statute of Limitations on Debt Collection

I had a credit card (cc) debt which I quit paying on back in 06/1999.

The CC co. closed the account on 12/99.

On my TransUnion credit report it says that the debt was ''Charged off as Bad

Debt'' it also states that ''Date Paid'' on it is 01/2001

I'm assuming that it was bought by a collection agency on 01/2001?

Lastly I recieved a letter from a locally addressed law firm (I can't tell if they

are real) saying that they represent the collection agency (Palisade Collection

LLC Assignee of Bank One) and that they are trying to callect this debt. It is

past the 30 days (but not by much) they have given me to respond.

What should I do? Is their claim valid, I've heard that if the last activity on the

acc is more then 6 yrs old they have no legal authority?

Please help.

THANKS in advance!!!


Asked on 8/30/05, 4:46 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Statute of Limitations on Debt Collection

Many credit cards are governed by the laws of other states, some with statutes far longer than six years.

Read more
Answered on 8/30/05, 9:42 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Georgia