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mc
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Subject: credit card
 
Posted on Sat Mar 07, 2009 8:51 pm  

What is the statute of limitation on the debt in Missouri.
Thanks MC
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4285



127 Magic Points

 
Posted on Sun Mar 08, 2009 2:41 pm  

Missouri Statutes of Limitation

Written agreement that contemplates the payment of money or property: 10 Years, (Mo.Rev. Stat. §5l6.ll 0). NOTE: Under certain circumstances, the contractual statute of limitations may be reduced to five years.

Open accounts: 5 years, (Mo. Rev. Stat. §5l6.l20).

Sale of goods under the UCC: 4 years. NOTE: The statute begins to run from the date when the breach occurred for contracts and from the time of the last item in the account on the debtor's side for actions on accounts.

Remember if you make one payment afdter the SOL has started this resets the SOL and then it begins from the date of your last payment.
carol

carol

Joined: 27 Jun 2006
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Posts: 1307
Location: Los Angeles, California


29555 Magic Points

 
Posted on Mon Mar 09, 2009 6:29 am  

Hi MC
Statute of Limitation is 10 years for written contracts and promissory notes and 5 years for oral agreements and open ended accounts. Statute of Limitation starts after 6 months from the date of your last missed payment towards the debt.
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Carol
bill
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Subject: credit cards judgements
 
Posted on Tue Jan 19, 2010 4:50 pm  

if i put my house in my sons name and he has judgements can they take the house
debranewell2008



Joined: 10 Oct 2009
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Posts: 594



99 Magic Points

 
Posted on Tue Jan 19, 2010 5:18 pm  

they can put a lien against it.
fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4285



127 Magic Points

 
Posted on Thu Jan 21, 2010 12:18 am  

Yes this is true. The put a lien against it and if it is ever sold it will show up when the house is to be transferred or sold and then they would have to be paid before the new owner could own the home.

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