Statute of Limitations Question

[John060675]

Ok, two part question:

First, what is the statute of limitations on credit card debt in Arkansas?  I have seen 3 years and 5 years, so one has to be right, but which one?

Second, I am thinking of moving to Arkansas for a job offer from Florida.  I have debt that is over 2 years old, but not 4 years (which is Florida statute of limitations).  If Arkansas is truly 3 years, then will this mean that lawfully they cannot sue for the debt anymore after another couple of months?  By the way, this is not the reason I am looking to relocate, just in case someone thinks that.  I am just curious out of curiousity sake. 

Thank you.

[203bravo]

Arkansas SoL on open ended contracts is 3 years... As long as you make the change your address officially in a timely mannor then yes you fall under the Arkansas laws.

Word of caution --- Flordia allows tolling of the SoL while absent from the state -- so if you ever move back you will have the remainder of the clock left on this debt..

[Anonymous]

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@John060675 wrote:

Ok, two part question:

First, what is the statute of limitations on credit card debt in Arkansas?  I have seen 3 years and 5 years, so one has to be right, but which one?

Second, I am thinking of moving to Arkansas for a job offer from Florida.  I have debt that is over 2 years old, but not 4 years (which is Florida statute of limitations).  If Arkansas is truly 3 years, then will this mean that lawfully they cannot sue for the debt anymore after another couple of months?  By the way, this is not the reason I am looking to relocate, just in case someone thinks that.  I am just curious out of curiousity sake. 

Thank you.

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AR SOL for CC debt is 3 years. 

The FDCPA gives them the option of using the SOL for either state.  However, most will only sue you in the state you currently live in because that is where the jurisdiction is.  But, read the CC agreement.  Sometimes they will say they abide by the laws of such and such state.

Just curious, where in AR?

[John060675]

Thank you all for the replies.  Guiness, I will be moving to Hot Springs if everything goes as planned.

[Anonymous]

I live in Ozark, which is north of Hot Springs.  Arkansas is a beautiful state, just takes some getting used to all the thunderstorms and tornadoes.