Legal Question in Credit and Debt Law in Texas
Please explain statute of limitations
My husband and I had a credit card account. No payment has been made on this account since 1996. Now I have a ''collection attorney'' calling. They say the balance owed when the account was charged off was $2600. They have now added another $2500 in interest and ''filing fees'', but are willing to settle this amount for $2300. This company stated the card was active from 86-96. I (without having all research done) am sure no payments have been made on this account since at least then.
They and 3 other collection firms say they have mailed many letters to my current address, but I have never heard of any of these companies nor remember seeing any mail from them.
As I stated above no payments have been made on this account. What should I do? Are the statutes of limtiations past on this account? This credit card is either based out of Maryland or New York. Thanks for any responses.
1 Answer from Attorneys
Re: Please explain statute of limitations
The statute of limitations is the time within which a lawsuit may be brought. It varies from state to state. Texas is four years from the date the account went into default. New York is six years, while Maryland is only three.
The agreement you made with the credit card company probably stated which laws would apply.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
