Ticket to Ride the Statute of Limitations

Original Article without song references found here.

Introduction: Here, there, and everywhere, the statute of limitations takes center stage in the world of credit card debt collection. In Missouri, it’s a long and winding road with variations and extensions. This article, peppered with Beatles references, aims to twist and shout an overview of the statute of limitations in Missouri. From variations to defenses, we’ll help you come together and understand this legal labyrinth. So, hold your hand, and let’s dive into the world of credit card debt collection.

Statute of Limitations on Credit Card Debt in Missouri: In this state of nowhere man, the statute of limitations for credit card debt collection generally spans five years, according to Missouri Revised Statutes Section 516.120. It’s been a hard day’s night for creditors who have five years from the last activity or payment to file a lawsuit for debt repayment.

Variations and Extensions: But wait, there’s more to this story! Here comes the sun, shining light on variations and extensions:

a. Hey Jude, partial payment: If a debtor makes a partial payment, the statute of limitations can twist and shout back to life, extending the time period.

b. Here, there, and everywhere, written acknowledgment: When a debtor provides a written acknowledgment of the debt, the statute of limitations can get back to where it once belonged, resetting the clock.

c. Long and winding road of the promissory note: If a written promissory note accompanies the credit card debt, the statute of limitations can stretch out to ten years, singing a tune from Missouri Revised Statutes Section 516.110.

Defenses for Defendants: When creditors come together and try to carry that weight, defendants have their defense tracks ready:

a. Yesterday’s expired statute of limitations: If a lawsuit is filed after the statute of limitations has expired, defendants can raise the defense of an expired time limit, leading to a case dismissal.

b. Help! Lack of written acknowledgment: If no written acknowledgment exists and defendants dispute the debt, they can argue that the statute of limitations has come and gone, offering a defense against collection efforts.

c. A hard day’s identity theft: When debt arises from identity theft, defendants can come together and say, “It’s not my debt,” challenging its validity and potentially leading to dismissal.

Examples of Dismissed Cases: In the end, there have been instances where the statute of limitations was left in the past, and cases were dismissed:

a. Eight days a week later: A lawsuit was filed six years after the last activity, but the defendant shouted, “I want to hold your expired statute of limitations,” leading to case dismissal.

b. Ten years ago today: A creditor filed a lawsuit for credit card debt ten years after the debtor made a partial payment. The defendant shouted, “You can’t do that,” and the statute of limitations twist and shouted its way to case dismissal.

Conclusion: All you need is understanding the statute of limitations on credit card debt collection in Missouri. From creditors to debtors, knowing the songs of variations, defenses, and dismissed cases is essential. Don’t let the legal maze drive you crazy, get by with a little help from knowledgeable attorneys who can hold your hand through the complexities. So, come together and navigate the long and winding road of debt collection with the statute of limitations as your guide.