Law Hub

Generally speaking, the Statute of Limitations for Credit Card debt in Pennsylvania is four (4) years.  The bigger question is “When does the Statute begin to run”?

Credit Card collection lawsuits are on the rise across the country. We especially notice the increase in claims here in Pennsylvania based upon the volume of phone calls and emails that I receive on this topic.

One of the biggest questions that I receive is “What is the Statute of Limitations for Credit Card Debt”? The quick and easy answer is four (4) years. (Unless the contract is under Seal, which makes the SOL 20 years. Most Credit Card contracts are not under Seal).

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Making a nominal payment to a collection agency in hopes of avoiding a lawsuit is the wrong thing to do.  Such an act may do much more harm than good.

This is a common question at my law firm. A potential client calls and says that they have defaulted on a credit card account. After I explain what their options are, they inevitably ask “Can’t I just send them $10 per month? If I do that, then they cannot sue me, right?” Wrong! This is a myth of the highest proportions. For reasons that I cannot explain, consumers often believe that it is better to send something, no matter how small, on an account that they have defaulted on, than to make the collection agency prove their case.

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Have you been threatened with Wage Garnishment?  Can they actually garnish your wages?

So you have defaulted on a credit account. The debt collector calls and demands immediate payment of the debt. The debt collector then makes the following threat: “If you do not pay this debt by Monday at noon, we will garnish your wages, starting with your next paycheck”.

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Bankruptcy filings will continue to rise due the current economic conditions.

Have you seen the price of gas lately? Have you gone to your local grocery store and checked out the prices for basic food items? Have you been out to eat in the past six months? If you are paying any attention at all, you will have noticed a significant increase.

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