Legal Question in Credit and Debt Law in Iowa

After what period of time does a credit balance not have to be refunded?


Asked on 2/27/12, 12:36 pm

1 Answer from Attorneys
Robert Luedeman solo practitioner

The statute of limitations on an open account is five years from the last admission of debt or payment, so I'd say that would be the time limit. After that you could be sued but it would fail.

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Answered on 2/28/12, 11:53 am


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