Posted on: 23rd Feb, 2010 12:53 pm
IN 2003 and since I have had major medical problems. My wife just received a judgment from a credit card company we have not paid since 2004. We are in North Carolina. Does the SOL apply here.
rec
rec
What do you mean by SOL?
Hi Rec,
The statute of limitations (SOL) applies to every state. However, SOL is different for different states. The SOL for North Carolina is 3 years for oral contract, written contract and open ended accounts. It is 5 years for promissory notes. So, I think the SOL on your debt has expired. Thus, the creditor or collection agency is not supposed to sue you.
Regards,
Lydia.
The statute of limitations (SOL) applies to every state. However, SOL is different for different states. The SOL for North Carolina is 3 years for oral contract, written contract and open ended accounts. It is 5 years for promissory notes. So, I think the SOL on your debt has expired. Thus, the creditor or collection agency is not supposed to sue you.
Regards,
Lydia.
