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Collections Law/SOL in KY for Credit Card Debt
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Question
I have been told 15 years, 5 years, 7 years, what is it?
Your Kentucky limitations statutes are generally found at section 413.080 et seq of the Kentucky Revised Statutes.
Written contracts in Kentucky have a limitation period of 15 years
The Kentucky version of the Uniform Commercial Code most likely sets the limitation period for the sale of goods at 4 years.
I don't know wherre the 5 and 7 came from in your question. It is very possible that there is another statute of limitations for an open account, and some states call credit cards open accounts for limitaiton purposes.
Most importantly, there are a lot of exceptions to the statute of limitaitons (so that it doesn't apply when it would otherwise seem to be directly applicable). Also, there is an equitable legal doctrine that allows you to raise the argument of the creditor having taken too much time, and that doctrine applies even if the limitation period has not run.
If you want to talk about this in more detail. Call me on my cell phone. 661 492-2673 I will not charge you just to talk on the phone and I can then be more specific.
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Answers by Expert:
John Hall
Expertise
Law school graduate, Juris Doctorate (J.D.) Degree; Over 25 years of experience throughout the United States in bankruptcy law matters (Chapters 7, 11, and 13 of the United States Bankruptcy Code) primarily representing individual debtors with consumer debt or small businesses; Experience has included all aspects of debtor/creditor relations.
Experience
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