Legal Question in Credit and Debt Law in Virginia

I opened several credit cards in VA about 20 yrs ago. I moved to another state and eventually defaulted on them over 5 yrs ago. I moved back to VA 3 yrs ago. When I moved, did I restart the SOL, or, since credit cards are a written contract, and it's been over 5 yrs since I defaulted, has the statute tolled?


Asked on 3/01/10, 1:41 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

If all the relevant facts are as you claim, it's likely that the amounts owed under these credit cards are no longer enforceable due to the expiration of the applicable statute of limitations (five years from date of default) and your merely moving back to Virginia would not have restarted the SOL "clock", so to speak.

However, if you were sued by one of these creditors after this lapse of years, you would need to raise the SOL as an affirmative defense to their claims

in your formal answer in order to bar them from further legal action against you.

Read more
Answered on 3/06/10, 8:39 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Virginia