Sunday, July 11th, 2010
When does the statute of limitation start on a credit card debt that is a two year no interest no payment plan?
Al asked:
When does the statute of limitation start on a credit card debt that is a two year no interest no payment plan? Would the start date occur on the payment being 30 days late after the two year period – would this first 30 days past due be a breach of payment agreement? There was no attempt by the debtor to pay this debt after the 2 years promotional period. Credit debt originated in the State of California with a 4 years statute of limitation..
When does the statute of limitation start on a credit card debt that is a two year no interest no payment plan? Would the start date occur on the payment being 30 days late after the two year period – would this first 30 days past due be a breach of payment agreement? There was no attempt by the debtor to pay this debt after the 2 years promotional period. Credit debt originated in the State of California with a 4 years statute of limitation..
July 14th, 2010 at 1:12 am
It would start from the date of your first missed payment….THAT is the day you breached your agreement. Being one day past due is LEGALLY a breach.