How long after you default on a credit card billcan you still be sued?
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How long after you default on a credit card billcan you still be sued?
I have a credit card debt that was sold to a law firm for collection. I have been just over 4 years without any payments. Then my wife made a token payment of $25 on a credit card bill of $24,000. The debt collector has now taken me to court and gotten a judgement. Can they still collect the debt; I’m in FL? They have asked me to fill out all my assets income etc by court order? Am I obligated to do this and what happens if I don’t fill out the income assets, etc? Can they include my wife who is not listed on account?
Asked on November 25, 2011 under Bankruptcy Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
In most states the statute of limitations to bring an action for a credit card debt under breach of contract or common count theory of recovery is 4 years. The issue that I see is that the payment by your wife of the $25.00 may have extended the statute of limitations on your $24,000 obligation.
Worse yet for you is the fact that there is a presumed default judgment against you for this debt. If you do not fill out an asset declaration sent you, there could be serious fall out to you as a result. Under debt collection practice statutes, you are obligated to complete the debt asset qustionaire.
Possibly one half of the marital estate could be subject to the debt collection process since the credit card was solely in your name. I suggest that you consult with a debt collection defense attorney about the situation you are in.
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