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How does the statute of limitations work on debt in Ohio? P. 2

In the last entry, we began a discussion of the statute of limitation period on credit card debt. Each state sets its own limitations period. Some commentators say that the various limitations periods in each state create confusion when finances cross state lines.

Ohio sets the statute of limitations on credit card debt at six years. But other states set different limits, ranging from a short time frame to seven years or more. Creditors in other states may try to argue that the limit is governed by the state law where the creditor has its home office, creating a conflict of law issue for the court. A credit card agreement may set out a contractual limitation issue, further complicating the matter.

One Ohio resident argued in 2010 that a South Dakota creditor was bound by the credit card agreement which set the limitation on collections under South Dakota law, which has a shorter time frame than Ohio collections law. An appellate court ruled against the argument, finding that Ohio's statute of limitations governs, allowing the debt collection lawsuit to move forward, according to Other courts have ruled differently.

Some creditors seek a judgment on an old debt even after the statute has run its course after a consumer has renewed the limitation period by paying toward the debt after the period ran out. The legal arguments in each situation may arise in a court of law.

When a person files for bankruptcy, the consumer is required to include a listing of all assets and all debts. Followers of this blog may recognize that media reports over celebrity bankruptcies often discuss the assets and debt structures of the celebrity, which is information the media mines from the court record.

When including the list of creditors and debts, bankruptcy lawyers seek to include all creditors, even those who may have a claim that exists outside the statute of limitations. The reason for listing all creditors is important. The creditors are given notice of the bankruptcy through the overall process, and furthermore, the debts or alleged debts are brought into the bankruptcy court to be handled through the bankruptcy code.

Source:, "Expiration dates fuzzy on old card debt," Fred O. Williams, March 22, 2013

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