Legal Question in Credit and Debt Law in Louisiana
A third party collection agency called me today about a credit card debt that was last paid on in March 2002. I live in Louisiana and I know that the statute of limitations for most things is 10 years but someone said it is 3 years for 'open accounts' which includes credit card debt. What does this mean? Can they sue me to collect on the debt? Do I still legally have to pay it?
Asked on 12/21/09, 10:35 am
1 Answer from Attorneys
Adam Lambert
The Law Office of Adam S. Lambert
It is 3 years for open accounts, yes. Also, that old card has certainly already been reported as a bad debt on your credit record. The original creditor has already written it off. If you pay on it now, all you will do is to pull the "date of last activity" from 2002 to the present.
Answered on 1/03/10, 9:20 am
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