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Law Girl
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Category: Bankruptcy Law
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im being sued in regard to a NEWPORT NEWS credit card ...

Customer Question

im being sued in regard to a NEWPORT NEWS credit card account through FCNB that I opened in 2001. My last payment was march 2004. A debt collector on behalf of newports news hired Pressler and Pressler law firm to represent them in court. The court date is 7/29/08. I live in NJ. I was reading online that in NJ if an open-ended account which i think this is, is 3 years old it is outside the Statue of Limitations and therefore I wont be responsible to pay the debt. I need to know if this is the truth because the law firm representing the Plantiff is calling me trying to settle and avoid court which I want as well but i dont want to settle on a debt that is outside the SOL. Why were they even able to set up court if this is outside the SOL. What do I do? Do I settle with them or am I safely outside the SOL? My debt was 400 but since non-payment since 2004 they are now asking 1181
Submitted: 9 years ago.
Category: Bankruptcy Law
Expert:  Law Girl replied 9 years ago.

Dear sin9811:

Thank you for your question.

You may want to consider settlement. The actual statute of limitations in New Jersey for open accounts is 6 years. (See N.J.S.A. 2A: 14-1). Therefore, the debt has not expired.

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