I had a credit card with a 500 dollar limit that was charged off 5 years ago. I now have a CA coming after me hard for 2700 dollars! Is this legal?
what state are you in? are the statute of limitations up on this account? its very possible depending on the interest rate that the contract you signed for when you opened the account.
michigan stats appear to be 6 years from the date of last payment/deliquency...so it looks like they could still sue you for the balance...12% at the time doesnt mean anything now...your default rate is more than likely 19-29% and it is still growing...trying for a payment arrangement or a settlement if possible...
