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mc
Guest

Subject: credit card

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

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

Joined: 27 Jun 2006
carol's page
Posts: 1307
Location: Los Angeles, California

29555 Magic Points

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.
_________________
Keep in touch
Carol

bill
Guest

Subject: credit cards judgements

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
debranewell2008's page
Posts: 594

99 Magic Points

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

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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