An interesting case recently came down from the Illinois Appellate Court, Portfolio Acquisitions, LLC. v. Feltman. Essentially, the Court held that credit card companies and debt collection companies have only five years, not ten, as previously held, from the date of last use of the card, in which to file suit.
It will be interesting to see if the Illinois Supreme Court takes up the case. Many defense attorneys are planning to use this case to help their clients, I'm sure.
The Swanson Firm defends defendants in civil lawsuits, including those sued by credit card companies and debt collectors. If you have been sued, contact us today.
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