Legal Question in Credit and Debt Law in Texas

Credit card dept

In 1996, Used my credit card to run up $2000. After 2 to 3 years or paying the min payment of $50 all the way to $200 a month, I found that after 2 years of payments, I was now in dept over $4000. There was some clause that said if u were ever late with payment, the Interest would go up to sat 27%.

We tried to make arrengment with company, but they wanted all if it.

Now, we have a lawer calling us up threatring that a sheriff will come by to pick me up.

why would anyone keep paying a dept that never went down. In 2 years, my dept doubled due to interest. They currently want a little over $5000.00. Im currently not working and just dont know what to do.


Asked on 4/02/08, 7:57 pm

1 Answer from Attorneys
Sharon Campbell Sharon K. Campbell

Re: Credit card dept

The statute of limitations for suit on a debt in Texas is four years. If you stopped paying in 1998 or 1999, the debt is outside the statute of limitations. If they sue you, you have grounds to sue them for filing a suit outside the statute of limitations. Actually, even threatening to sue on a debt which is outside the statute of limitations is a violation of the Fair Debt Collection practices act.

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Answered on 4/02/08, 11:03 pm


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