Does anyone know if there are laws that govern the time for which an OC must maintain a signed copy of the credit card application (contract)? If an OC doesn't have a backup copy of the application, can they still legally pursuit the collection of the debt? Is there any way that the OC can prove the contract/debt exists by showing that the account holder must have accepted the "boilerplate" agreement that was predominant at the time the account was opend by supplying parole evidence such as invoices, cancelled checks for payment, etc? Thanks in advance for your replies.
If they have copies of checks, a real tough question to answer is, "if you had no relationship with this company, why were you writting them checks"? A check will give them the name of a bank and an account number . It makes issuing a subponea for your complete bank records very easy. With a couple of years of bank history, a determined creditor can easily tie you to the defaulted account.
I understood the signed slips themselves, regardless or in addition to the original agreement, was an acknowledgement and agreement to the terms. Sassy
http://www.bankersbox.com/selection/bnkrcrds.htm This site gives an idea of what the standard is. Credit Cards Years Applications 2 New accounts 2 Closed accounts 2 Sales drafts (hard copy) Microfilm copy should be retained according to the state's statute of limitations 6 months Statements (microfilm copy) 5
