Apr 24, 2012, 03:51 PM
My wife was recently contacted by a debt collector regarding an old credit card debt. After talking with the representative, I determined that the last activity on the account was a payment in 2008. When I brought to her attention that this was beyond the 3 year statute of limitations on a revolving debt, she claimed that the action was being filed as a promissory note. Can an open-ended, revolving department store credit account be converted to a promissory note? To my knowledge, she never signed anything agreeing to pay any set amount. Thanks in advance for your help.