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Ohio, has two statute of limitations for credit cards,
thank you, XXXXX XXXXX are?
Under Ohio law, credit card companies and collectors in the State of Ohio use state statutes 2305.06 and 2305.07 for the time period they are allowed to file a lawsuit on credit card debts.
Under Statute 2305.07, all collection activity must stop after six years, taking into consideration the amount of debt owed in comparison to the cost and time to pursue a lawsuit. Others will use Statute 2307.06 to continue efforts for as long as 15 years, whether the amount is considered large or small.
In your case, as more than 6 years have passed they may be using the 15 year statute of limitations, which is for written contracts, however it is not clear,
you should contact them and advise them the Ohio statute of limitations is 6 years and the debt is not collectable.
If they argue that the can collect fo 15 years,
let them sue you and in Court try to work out a settlement,
thank you. So my question is, Since I can no longer log on to the collection agency's website (First Source), which just happened this month, and AMEX is now contacting me directly, does this mean they are likely to start legal action (garnish wages)? The credit card debt is almost $30,000. Also, since I've been paying the collection agency has the statute of limitations considered to not have started?
In order for them to collect they must sue you and obtain a judgment,
if they are contacting you now, they may be starting a lawsuit, or they may now realize that the 6 years is over and are trying to have you pay them.
If you have been paying the collection agency, that hurts you as it starts the collection time again,
Another option is to call them and state you will file a bankruptcy if they do not settle, and see if you can make a payment plan or cur the amount owed to 10,000 or less
Yes, I've been paying Collection agency. Would you say it's pretty safe then to contact them. I've been a little nervous about contacting them because their letter states either settle or increase payments from $50 to $650. I can't afford $650 a month at this time.
yes, you should contact them, and threaten them with a bankruptcy, as they will not get anything if you do
Ok, thank you very much! You have been very helpful and I appreciate your time.
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