Legal Question in Credit and Debt Law in Texas
Old debit
Can a creditor still collect on an old debit the last active date on account was past 4 years ago. I'm being sent a citation. The account was charged off in 2003.
Asked on 11/05/06, 9:12 pm
1 Answer from Attorneys
Sharon Campbell
Sharon K. Campbell
Re: Old debit
The date of charge-off has nothing to do with the statute of limitations. Charge-off is merely an internal accounting procedure of the credit card company. Statute of limitations counts from last payment on the account and is four years in the state of Texas.
Answered on 11/05/06, 9:30 pm
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