Expert: Creditwrench - 5/8/2008

Question
Is or was teh statue of limitations on credit card debt in oklahoma 3 or 5 years? Also Do you know the state statue that tells that?

Answer
The statute of limitations in Oklahoma was changed from 3 years to 5 years. I don't know when that took place but I certainly would like to find out. But for me that isn't the only question I have.

I have a very elderly student who is battling a case in Logan County in which her cards went delinquent about 4 years back and she is being sued  by a law firm who claims the statute is 5 years. The question becomes one of whether or not she falls under the old law or were her debts grandfathered into the new law. That could be a question for lots of people whose debts might fall into that category. It could also be a grounds for many to get their judgments vacated.

I've tried to get the answer from the head of the House of Representatives Judicial affairs chairman but can't get him to reply to my phone calls.

My student isn't very worried about it because every time the court calls the case the attorney shows up and the judge tries to give them a judgment but the attorney always declines the judgment. They know that if they accept judgment they won't get a crying dime out of her because her only income is SSI plus she has threatened to take them to federal court and they know that if she does so they can't possibly win and will have to pay damages much greater than the small amount they would like to extract from her.

They also know they will have to spend expensive lawyer time to even attempt to defend while she will file in forma pauperous and pay nothing at all. No matter how they look at it the whole thing becomes a very expensive legal battle for them with no possible win so they just keep declining the judgment.

They have already spent a considerable amount of attorney time for nothing and they know it. They ought to just dismiss the case and be done with it.