When does the statute of limitation start on a credit card debt that is a two year no interest no payment plan?


Question by Al: When does the statute of limitation start on a credit card debt that is a two year no interest no payment plan?
When does the statute of limitation start on a credit card debt that is a two year no interest no payment plan? Would the start date occur on the payment being 30 days late after the two year period – would this first 30 days past due be a breach of payment agreement? There was no attempt by the debtor to pay this debt after the 2 years promotional period. Credit debt originated in the State of California with a 4 years statute of limitation..

Best answer:

Answer by Ryan M
It would start from the date of your first missed payment….THAT is the day you breached your agreement. Being one day past due is LEGALLY a breach.

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One Response to When does the statute of limitation start on a credit card debt that is a two year no interest no payment plan?

  1. bdancer222
    August 24, 2011 at 10:54 am

    Typically the SOL starts from the date or last activity or last payment — not the breach.

    The first missed payment would constitute a breach of the contract. At that point the creditor should have taken action to collect the debt, including filing lawsuit if needed.