Legal Question in Credit and Debt Law in Illinois
Credit Card Debt
My mother-in-law just went to court over an old credit card debt. The judge sat there and said that the statute of limitations was 10 years, but I have been researching and EVERYTHING I see says that it's 5 years for open accounts and that Credit Cards are ALWAYS Open Accounts.
Asked on 5/19/08, 4:30 pm
1 Answer from Attorneys
Joseph Michelotti
Michelotti & Associates, Ltd.
Re: Credit Card Debt
You are reading the wrong information. Try a law library rather than the internet, or better yet pay a lawyer for a legal opinion.
Check out 735 ILCS 13-206...10 years
Answered on 5/19/08, 4:35 pm