scenario: I incurred 90% of my debt in New York state years ago. I now live in New Jersey. Which statute of limitations apply for these debts. The state where I incurred the debt or the state where the creditor is ? I'm lost on this part.
It is my understanding that with open-ended accounts (credit cards), it is the state where the original contract was signed. I thought I had the SOL stuff down pat, but it seems to change constantly ;-) I got my stuff from : http://www.carreonandassociates.com/sol.htm and http://www.olddebts.com/state_list.html Hope this helps.
This is a bit confusing for me as well. In one Texas law it states that if the debt & debtor are in TX - obviously Texas. If the debtor has been in TX at least a year, and the debt outside TX, then TX SOL applies. Then if you are outside of TX for a year, then TX no longer applies. Then I guess it is all based upon how state law is written. To be sued by a CA, they have to come to you. Then you are in your state. Your Judge might apply Your states law. Who knows? Ask a lawyer in your state!
If you incurred debt in NY then move to NJ, then the creditor can use either, Most of the time, its whichever is greater.
