SOL in GA

[aant]

What is the name of your state? GA
I need enlightenment on statute of limitations for debt enforcement in Georgia. The code lists "contracts", "written contracts", and several other categories. I'm interested in SOL for revolving credit account. I've read 6 years, 4 years, & 5 years. I thought it was from date of default, which would be 31 days from date of last payment. An attorney told me 6 years from date of write-off. I have 2 write-off dates on 2 cred reports. He said cred reports don't matter, even though the date he stated was one of the CR-listed dates. Where then is the secret write-off date, and is it even relevant? Is it earliest write-off date, most recent write-off date, date of last payment, or default date?

 

[racer72]

Georgia does not have a specific SOL for revolving credit accounts. If it is a credit card, it is 6 years from the date of last payment. The SOL for open accounts, such as what a carpenter would have at a lumber yard, is 4 years from the date of default.

 

[aant]

Thanks very much racer. I'll go with that. It was a credit card, a revolving credit account. It has not been open for 10 years.
My reason for asking is that a creditor for an old account has filed suit. My last payment was 12-04. I have paid $1600 or so over the original balance of $4300 (over 7 years) & they have filed for $6300 more. I notified them 3 years ago that I could no longer afford to make payments on it; which was & still is true since I had a decline in income. The plaintiff's attorney made me a settlement offer, I counter-offered when the SOL argument seemed slim, & am waiting to hear.
On one hand I wish I had the resources to pay it, & would if I did; I did sign the contract. On the other hand I believe the $6300 mark-up is unreasonable, whether or not it's stipulated in the original agreement. I assumed I'd always make that kind of money - I didn't anticipate not being able to pay on time & getting into such a position. I believe this is true of most people, that they do want to pay their debts yet don't plan for hardship. The 'deadbeat' mentality is similar to the 'welfare' mentality. Most people don't want to sit around on the sofa & not work either, but the opinion remains otherwise.

 

[TigerD]

My last payment was 12-04.

Then the SOL starts at 12/04. The debt is still well within SOL.

 

[aant]

Thanks DC
I assumed the attorney's office would have researched that before pursuing anyway. Of all the different answers I've gotten, none of them suggests SOL as an argument, so I'm in.

I'm glad I didn't go to law school, I don't think I'd have the patience for the ambiguity in language.