Interesting article and the good guys won ! Frankly I'm surprised that Midland bothered to go to trial on this one.
However, before you get too excited, SOL time is a state law issue so I'd be careful reading too much into this case if you don't live in NJ. Most states are 3 years for credit card debt, seems NJ is 6 and now 4 for "store cards".
I guess the lesson is, know the law in you state and don't let a JDB tell you otherwise.
That is pretty interesting how the complexity of legalese can so profoundly affect something so serious. I'm surprised. As a NJ resident I'd say it's obvious Midland isn't paying enough protection money, or perhaps the retail stores aren't, or are. The whole system is so twisted I can't figure what any of their end games are.
The truely interesting part here isn't the NJ-specific SOL timeframes... but the ruling that partial payments didn't reset the SOL:
"the Court also found that partial payments, which were less than the required minimal payment, did not toll (i.e., pause or extend) the running of the statute of limitations"