From WhyChat'ssite New Jersey has 3 Years for Open Account , 4 for Sale of Goods and 6 for Written Contract. Does a credit card account count as an Open account or a Sale of Goods account? And if I understand it correctly if a CA called my friend about an account they were bought/or given in 1999 my friend could write a Cease & Decist letter telling them not to contact her any more then send a copy to the CRA and have it removed because it is past the SOL?
On Why Chat's web page here there is a large note that states: Credit Cards are always Open Accounts. Scroll near the bottom of the web page to see it. I hope this helps.
NEW JERSEY STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 3 see "g" Sale of Goods: 4 Written Contract: 6 25:1-5 Promises or agreements not binding unless in writing . No action shall be brought upon any of the following agreements or promises, unless the agreement or promise, upon which such action shall be brought or some memorandum or note thereof, shall be in writing, and signed by the party to the agreement 12A:2-725. Statute of limitations in contracts for sale (1) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it. (2) A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach. (3) Where an action commenced within the time limited by subsection (1) is so terminated as to leave available a remedy by another action for the same breach such other action may be commenced after the expiration of the time limited and within six months after the termination of the first action unless the termination resulted from voluntary discontinuance or from dismissal for failure or neglect to prosecute. (4) This section does not alter the law on tolling of the statute of limitations nor does it apply to causes of action which have accrued before this Act becomes effective. 12A:3-118. Statute of limitations a. Except as provided in subsection e. of this section, an action to enforce the obligation of a party to pay a note payable at a definite time must be commenced within six years after the due date or dates stated in the note or, if a due date is accelerated, within six years after the accelerated due date. c. Except as provided in subsection d. of this section, an action to enforce the obligation of a party to an unaccepted draft to pay the draft must be commenced within three years after dishonor of the draft or 10 years after the date of the draft, whichever period expires first. d. An action to enforce the obligation of the acceptor of a certified check or the issuer of a teller's check, cashier's check, or traveler's check must be commenced within three years after demand for payment is made to the acceptor or issuer, as the case may be. e. An action to enforce the obligation of a party to a certificate of deposit to pay the instrument must be commenced within six years after demand for payment is made to the maker, but if the instrument states a due date and the maker is not required to pay before that date, the six-year period begins when a demand for payment is in effect and the due date has passed. f. An action to enforce the obligation of a party to pay an accepted draft, other than a certified check, must be commenced within six years after the due date or dates stated in the draft or acceptance if the obligation of the acceptor is payable at a definite time, or within six years after the date of the acceptance if the obligation of the acceptor is payable on demand. g. Unless governed by other law regarding claims for indemnity or contribution, an action for conversion of an instrument, for money had and received, or like action based on conversion, for breach of warranty, or to enforce an obligation, duty, or right arising under this chapter and not governed by this section must be commenced within three years after the cause of action accrues. L.1995,c.28,s.1. 2C:21-19. Wrongful Credit Practices and Related Offenses. d. Unlawful collection practices. A person is guilty of a disorderly persons offense when, with purpose to enforce a claim or judgment for money or property, he sends, mails or delivers to another person a notice, document or other instrument which has no judicial or official sanction and which in its format or appearance simulates a summons, complaint, court order or process or an insignia, seal or printed form of a federal, State or local government or an instrumentality thereof, or is otherwise calculated to induce a belief that such notice, document or instrument has a judicial or official sanction. e. Making a false statement of credit terms. A person is guilty of a disorderly persons offense when he understates or fails to state the interest rate, or makes a false or inaccurate or incomplete statement of any other credit terms. f. Debt adjusters. Any person who shall act or offer to act as a debt adjuster shall be guilty of a crime of the fourth degree. "Debt adjuster" means a person who either (1) acts or offers to act for a consideration as an intermediary between a debtor and his creditors for the purpose of settling, compounding, or otherwise altering the terms of payment of any debts of the debtor, or (2) who, to that end, receives money or other property from the debtor, or on behalf of the debtor, for payment to, or distribution among, the creditors of the debtor. "Debtor" means an individual or two or more individuals who are jointly and severally, or jointly or severally indebted. The following persons shall not be deemed debt adjusters for the purposes of this section: an attorney at law of this State who is not principally engaged as a debt adjuster; a nonprofit social service or consumer credit counseling agency licensed pursuant to P.L.1979, c.16 (C.17:16G-1 et seq.);
NEW JERSEY 1 Year Libel and Slander; §2A:14-3 2 Years Assault and Battery; §2A:14-2 Medical Malpractice; §2A:14-2 Personal Injuries; §2A:14-2 Wrongful Death; §2A:31-3 6 Years Oral Contracts; §2A:14-1 Property Damage; §2A:14-1 Written Contracts Not Under Seal; §2A:14-1 16 Years Written Contracts Under Seal; §2A:14-4
CC's are open accounts While the SOL to sue on the open account is 4 years, the CRA can continue to report negative information for 7 years
The SOL for an open ENDED credit card account in NJ is 3 years. The SOL for an "open" (also known as a book account or store account) account is 4 years. The obsolescence period is 7 years on your credit report, HOWEVER if a notice is sent to the creditor that the account is past SOL (SOL letter from my website), and THEN the account is DISPUTED with the CRA,the CA would then be engaged in continued collection activities if they verify. Continued collection activities on an account that they have had notice is TIME-BARRED, may be considered a violation of the FDCPA and any State statutes on fraudulent extortion. There are several VERY long technical discussions of this subject on ths forum, titled "Why Time-Barred C & D = Deletion"
