Credit card debt statute of limitations does not reset after moving to a new state
Q: I recently moved to Texas from Arizona. I have credit card debt with Citibank that is almost 3 years in default. The statute of limitations on credit card debt in Arizona is 3 years while in Texas it is 4. Does the statute of limitations start over again because of the move to another state? In other words, will the SOL expire 3 years from when I defaulted on the credit card debt in Arizona, or will it reset and take another 4 years from the point I moved to Texas?
A: To the best of my knowledge, credit card debt statute of limitations does not reset. The SOL should be still 3 years. Your move may have disrupted Citibank ability to track you, but only temporarily. They will find you if it is worth their while. One thing the relocation may also affect is which statute of limitations the court will use if Citi decides to sue. And that can be important because different state statutes often work and are enforced quite differently, and I do not know which one is tougher.
Last thing is to check your credit card agreement with Citibank to see if it has a choice-of-law provision that chooses the statute laws of another state like Delaware or Virginia among several others to go after delinquent credit card debt.
Fri May 14, 2010 10:05AM | Copyright: www.bad-credit-advisor.com | More in Credit Card Debt | Comments (0)
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