Legal Question in Credit and Debt Law in Texas
statue of limitations of credit card
I Know the statue of limitation for open account in Texas is 4 years. My question is when does it start, after write off of the account or the last payment on the account? Thank for your help.
Asked on 8/31/07, 11:15 am
1 Answer from Attorneys
Sharon Campbell
Sharon K. Campbell
Re: statue of limitations of credit card
Its when the account went into default which is usually when the last payment was made. Write off is irrelevant - it is merely an accounting requirement a creditor is required to do by law.
Answered on 8/31/07, 12:28 pm
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