The statute of limitations for credit card debt in the state of Georgia is four years. The Federal Truth In Lending Act indicates that credit cards are open end accounts. Those who maintain that credit cards are written agreements rather than open end accounts are incorrect. Federal Law supersedes state law or a state court's interpretation. As indicated the Federal TILA clearly defines credit cards as open end accounts and in the state of Georgia, that would be a four year statute.
Georgia's statutes provide,
Quote:
Quoting OCGA § 11-2-725. Statute of limitations in contracts for sale
(1) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it.
and
Quote:
Quoting § 9-3-25. Open accounts; breach of certain contracts; implied promise; exception
All actions upon open account, or for the breach of any contract not under the hand of the party sought to be charged, or upon any implied promise or undertaking shall be brought within four years after the right of action accrues. However, this Code section shall not apply to actions for the breach of contracts for the sale of goods under Article 2 of Title 11.
Here is a site which you will surely want to review as it contains invaluable information for those who have reached the four year statute of limitations for credit card debt:
Why Chat's Credit Confusion -How To Answer A Lawsuit
(Click on highlited link)
It is recommended that you contact threatening debt collectors with a SOL letter making them aware you know your rights. If you are facing a court hearing, the above link provides all the tools you need to defend yourself. This site even includes a US Supreme Court decision defining credit cards as an open end account. There are numerous other US Supreme Court decisions which refer to credit cards as being open end acccounts. Knowing your rights, being prepared & being firm are important to a successful, affirmative SOL defense. The above site gives you all the tools you need for a successful defense. Note: The information at the above link may be applied to each state's SOL for open end accounts. In Georgia, the SOL for open end accounts (credit cards) is four years. The same information could also, be applied to other state's SOL for open end accounts.
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