What is the statute of limitations on a credit card debt in Florida after being charged off and sold to a third party?

5 years

ANSWER Actually, credit card debt in Florida falls under the 4 year SoL (as it is an "open" or "revolving" account and does not fall under "written" (meaning loans, in the simplest terms) accounts.

The SoL begins on the last payment made. So if you made your last payment on July 2004, the SoL would expire July 2008.

And FTR, a creditor selling your account to a collection agency (or any other "third party" does not constitute activity in terms of reseting the SoL. Meaning, even if another party purchases your debt, the original DOLA (date of last activity) still applies.

So even if in August 2007, Bob's Collection Agency buys your debt from Joe's Credit Cards and the DOLA is July 2004, the SoL still expires July 2008.

And note that you can still be sued for the debt. SoL expiration just provides what's called "permissible defense" -- meaning, the court will tell the plaintiff in the matter "You lose. You should have sought legal remedies within the past 4 years."

HOWEVER, if you ARE sued (and some collection agencies will attempt this, despite SoL expiration), you must still show up in court. Otherwise, you lose automatically by default.

First answer by ID1191199921. Last edit by Imsewcreative. Contributor trust: 10 [recommend contributor]. Question popularity: 19 [recommend question]