Charged Off CC and now Billing 2 years later

[Bell30656]

When I look at this, I can't figure why any credit card company would locate their offices and actually insist that the laws of Virginia apply with such a short statute of limitations. Why wouldn't the credit card companies locate themselves in a place like Rhode Island with a ten year statute of limitations?

[df04527]

Virginia is (more than likely) where their main office is located.

[Bell30656]

I agree VA may be where the main office is but just as many companies are incorporated out of DE because of favorable laws, why would they pick a state with such a short SOL? They can put an office anywhere. Many of the corporations out of DE are just mailboxes at an office building.

[enuffznuff]

They are probably just hoping you'll confuse it with a current statement on another account and automatically pay the minimum payment listed, thereby 'resetting' the statute of limitations. A payment would restart the SOL.