Legal Question in Credit and Debt Law in Texas
Statute of Limitations on Credit Card Debt
Which state law applies regarding the statute of limitations on credit card debt: the state in which you live now, the state you lived in when you first obtained the credit card, the state the credit card company is in, or other? Thanks!
Asked on 7/31/04, 1:53 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Statute of Limitations on Credit Card Debt
As a matter of law, the state law to be followed is that set forth in the credit card agreement. That's usually the state where the lender resides. As a practical matter, it's usually taken to be the state where the debtor resides.
Answered on 7/31/04, 9:30 pm
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