[ksccar]

I have recently received a court summons for a credit card that has not been used since 2004. The credit limit was 1000 dollars, now I'm being sued for 3000 dollars. I know from reading other posts that I need to file an "intent to defend and request a verification of debt from the collection agency. My question is do these forms have a particular way they need to be formatted? I thought that the statue of limitations in Ga was 4 years. How long can a company continue to charge finance charges and late payments on accounts? Any advice would be appreciated. Thanks in advance.

[ScottGem]

They can continue to charge interest and fees until the account is paid off.

As for the SOL, if the card was last used in 2004, they may be just under the SOL.

So file your Intent and verification request. But you might consider trying to negotiate a settlement. Once they get a judgement they have little incentive to settle.

[this8384]

Sorry Scott, I have to partially disagree. Just because the card was last used in 2004 doesn't mean that's when the SOL starts; it starts on the date that the last payment was made. So if the OP was making payments up until 2005, 2006, etc. then the credit card company is not out of SOL.

But of course, everything else you posted was accurate :)

[ScottGem]

Sorry Scott, I have to partially disagree.

We don't disagree. I said MAY be under the SOL. Assuming the last use was sometime in 2004, the account may not have gone into default until late in 2004 or even later. So there is a good chance the SOL hasn't expired.

[this8384]

We don't disagree. I said MAY be under the SOL. Assuming the last use was sometime in 2004, the account may not have gone into default until late in 2004 or even later. So there is a good chance the SOL hasn't expired.

Agreed; I was posting it more for the OP's sake because a lot of people don't understand how SOL works. They think that last use of the card is the date of the SOL, that verbal acknowledgement of the debt renews the SOL, etc. I just wanted them to have a bit more clarification and not assume that they were safe "just 'cause." No red boxes here! *lol*