Legal Question in Credit and Debt Law in Michigan
Credit Card Payments
I was once told that if you made no payments on a credit card that after six years it is no longer collectible. I realize this is not the way to go, but wonder if this is so.
1 Answer from Attorneys
Re: Credit Card Payments
Whomever told you this was likely referring to the statute of limitations which is 6 years for actions to recover damages or sums due for breach of contract. This means that the creditor has six years from the time the claim accrued within which to commence an action in court for your breach of contract.
(Please do not rely on this communication which does not create an attorney-client relationship and which is intended merely as a discussion of legal principles and is not to be relied upon.)
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