Jul 17, 2010
Just want to let you know, regarding the statute of limitations on debts, this is determined by the state under whose jurisdiction the debt was originally obtained. Unfortunately, that DOES NOT mean the state in which you lived at the time. If you read the fine print, you will see that many of these credit agreements state that they are under the laws of the State of New Hampshire, which does not have a statute of limitations -- so theoretically even if the statute of limitations in your state has expired, this creditor can still sue you.