Legal Question in Credit and Debt Law in Oregon

Credit card collection

I am 61 was recently awarded SSDI. I have no other income, own a 1955 travel trailer worth less than $1000, the credit card company charged off the debt in 2001.Today received notice from collection company in Texas, wanting to settle or will take legal action after 7 years. Do I have any recourse?


Asked on 2/03/08, 2:01 am

1 Answer from Attorneys
Andrew Svitek Svitek Law Group, LLC

Re: Credit card collection

Oregon has a 6yr Statute of Limitations (SOL) on contacts. Maybe another state's SOL applies, if you lived in a different state when you entered into the agreement?

Besides the SOL problem, you don't have enough assets for a creditor to recover from, so it is very unlikely that the creditor would spend the time or funds that would be required to file this as a court case since their judgment wouldn't become a lien on real property and they probably wouldn't be able to garnish your exempt disability payments.

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Answered on 2/16/08, 4:46 pm


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