Which statute of limitations guidelines do I use

[Anonymous]

Here are the SOL for my state

Fraud: 10 years.

Libel / Slander / Defamation: 2 years.

Injury to Personal Property: 5 years.

Product Liability: 5 years.

Contracts: 5 years. Written contract for repayment of money or property, 10 years.

This is for Missouri.  Would I use the 5 year or 10 year limitation.  If it is 10 years that really sucks.

[chartley3]

I would call your Attorney General's office and ask. Usually they lump things like collections and CC into the 5 year SOL. In Ohio its 7 and 15 years however the only time Ive seen a 15 year invoked is when your dealing with building contractors or some major deal where a person defaults.

[Anonymous]

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

you need to check for more info. on your state. I found mine under banking rules & regulations.

Message Edited by HappyDays on 07-02-2007 12:45 PM

[Anonymous]

Thank You   I am releived that credit cards are only 5 years for my state.  Some states have it much harder than the others.  I would guess that it is easier to get credit in states where the SOL is longer

[Anonymous]

what I sent you is just the basic. You need to find out what date your state using for SOL.

In my state it is last activaty not first miss pmt.

Examp: I miss a pmt in Jan & pay in March or even later. The clock starts on the latest date not the first one.This is only for state SOL

Credit report is first missed pmt.

Message Edited by HappyDays on 07-02-2007 01:33 PM

[Anonymous]

OK  I will dig a little and try to find the answer.  Thanks

[Tuscani]

Reporting SOL is the same for all. The state SOL only really matters if a CA in attempting to make you liable for a debt.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=2689

[Anonymous]

Are you asking about SOL or CRTP?

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=17466

[Anonymous]

Missouri SOL appears to be 10 years for written and promissory. 5 years for oral and open.

http://www.moga.state.mo.us/statutes/C500-599/5160000120.HTM

But there may be caselaw which places the matter in doubt. Is a CC open or written? I dunno. Not a judge, not a MO judge, and not a judge of the state supreme court with the matter before me.

Be sure that you're asking about SOL and not CRTP.