reply to silentlooker
Re: General info needed about Statute of Limitations Wow, that link is an excellent answer! Awesome research, silentlooker. A+
To add to the information already given, the crappy news is that there is usually more than one law a credit card issuer can use to go after you. Lawsuits almost never happen in a vacuum. There are so many caveats and clauses in a user agreement, it is almost impossible for a consumer to wiggle out on a technicality. If a creditor wants their money bad enough there is probably something either in the agreement or the law they can get you on.
Also, there is a lot of grey area as to when the statute of limitations begins. Simply because the chronological time for statute of limitations has passed does not automatically mean you are in the clear. Sometimes the clock is reset due to actions of either party. For example, if you made a payment or a charge, or initiated contact with the creditor (for any reason)...in many (not all) cases these events put you back at the starting line and effectively means the SOL never runs out. Some time limits are measured in business days.
I would say that if it gets to the point where the courts may be involved, you need to get yourself some legal counsel.
mocycler is a corporate counsel attorney and (by most accounts) a decent guy