SOL Question

[possumfat]

What is the name of your state? Oklahoma

The SOL for debts in Oklahoma are 3 years for "open accounts" and 5 years for "written contracts".

Does anyone know what category "credit card debt" falls into ? Listed below is the SOL information for Oklahoma:

OKLAHOMA

INTEREST RATE

Legal: 6%

Judgment: 4% over U.S. Treasury Bill Rate of previous year. (1996 = 9.55% 1997 = 9.15%)

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3

Written Contract: 5

Domestic Judgment: 5 renewable

Foreign Judgment: 3

BAD CHECK LAWS (CIVIL PENALTY) N/A

GENERAL GARNISHMENT EXEMPTIONS

State law: 75% of earnings exempted, more if hardship established. All federal exemptions apply.

COLLECTION AGENCY BOND & LICENSE

Bond: No License: No Fee: No

 

[cmorris]

Credit cards are open accounts because they are revolving.

 

[Ladynred]

Unfortunately, you are going to have a VERY hard time convincing an OK judge that the SOL is only 3 years for a credit card. Even though the statute says 3 years, the judges are ruling 5 years for written contracts applies. There are several Oklahoma residents on creditinfocenter who have fought this battle - and lost. You might want to head over there to the 'lawyer in the house' forum and do a search on their stories.. or just ask.

 

[possumfat]

Thans LadynRed

appreciate you pointing me there............begginning to sound like my SOL is 5 years instead of 3.

 

[guest.]

Are you getting sued?

Only one Oklahoma judge has ruled a CC is a contract in writing (at least that made the appelate courts). In that case the creditor produced signed receipts which was the basis of the ruling. It was affirmed by the appelate courts.

The main thing is fight them and learn all about the Ok rules of civil procedure, If you can make a solid counterclaim, all the better.

www.oscn.net lists all of oklahoma laws, case law, current cases in some counties, etc...

 

[possumfat]

Not yet

Not being sued yet but could happpen soon................would it be ok to contact you............my email is rfidgary@yahoo.com

 

[guest.]

yes, email sent