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GotaFewQuestions · Jun 18, 2007, 07:48 PM

I am being told that I am going to be summoned to court about a Providian Credit card that I have not paid on since back in 2001. The lawyer that is going to reprosent them said they could take my things, personal possessions. Is this true? I live in South Carolina and wonder if anyone knows what they can and can not do.

atlmiss · Jun 18, 2007, 08:09 PM

You aren't being sued by Portfolio Recovery Associates are you? Because I am going through similar with a Providian card. Providian and Portfolio recovery are infamously ruthless!

If your date of last activity is in 2001 you may well be past the Statute of Limitations on your debt. Look it up for your state. In Georgia it is 4 years.

If so inform them of that the statute has run out on the debt and send them a cease and desist letter. Search for it on the board. In doing my research I have come across loads on the subject.

Others here are more expert than I, but threats and so forth may violate certain fair debt collecting laws as well.

Good Luck!

LadyB · Jun 18, 2007, 08:47 PM

Statute of limitations laws are somewhat vague, so while most credit cards are considered "open accounts" some cases have filed suit as "written contracts" apparently

SC has a 3 year statute of limitations on open accounts, but 10 years on written contracts. Until/unless you get a subpoena though, they are probably just trying to intimidate you into paying. If you make even one payment, the SOL starts over. I would tell them flat out the statute of limitations has run out and see how they react. They are usually counting on you being uninformed.

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mr.yet · Jun 19, 2007, 03:47 AM

Credit Cards are open accounts

ScottGem · Jun 19, 2007, 06:17 AM

Generally unsecured debt can not be used against non cash assets. So its unlikely they will be able to seize personal property.

While it does appear the SOL has expired that does not absolve you of the debt. If this is a valid debt then you owe the money. If you can pay it you have a moral obligation to do so. But I would not enter into a payment plan since that restarts the SOL.

GotaFewQuestions · Jun 19, 2007, 09:16 AM

If anything you have helped me settle things in my mind on how to deal with this situation. I am going to admit when all this began... I was a part of what I jokingly call the young and the dumb. Atlmiss, Lady B, Mr. Yet, and ScottGem I want to tell you that you all have made me feel a lot better. Last night I caught grief even trying to sleep due to my nerves. You have given me some direction to go in with this now. Thank you so very much and I will keep you updated as to how this goes.