You are here:
- Home
- Business
- Corporate Law
- Collections Law
- credit card statute of limitations
Collections Law/credit card statute of limitations
Advertisement
Question
I have several judgments from credit card companies against me from 2002 in Georgia. Since that time the credit card has been sold several times to collection agencies. Do I still owe this money? Can I get this taken off of my credit report? My husband checked his credit report and found that an old credit card account had been sold to a new collection agency and they reopened the account with a date of 2-1-2007 on his credit. Is there anything that can be done about this?
The statute of limitations on credit cards in Georgia is 4 years from the date of last activity such as a payment or charge on the account. If you can determine the date of last activity (DLA) and it is past the 4 yrs you no longer owe the debt.
You may dispute the debt in writing to the collection agency and the credit bureaus. Send a letter by certified mail return receipt requested and advise the collection agency to cease all contact with you and advise them you are filing a complaint with the Federal Trade Commission. This should stop the collection activity. If not, file your complaint.
Related Articles
Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
©2012 About.com, a part of The New York Times Company. All rights reserved.