Information on Statute of Limitations in Oklahoma - The Bills.com Blog

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Information on Statute of Limitations in Oklahoma

Monday, Jul 21, 2008

Question: You list the statue of limitations in Oklahoma as 3 years but that is for oral agreements, written contracts are 5 years. Wouldn't a credit card account be considered a written contract and thus be 5 years?

Answer: First, I must tell you that I am not an attorney licensed to practice law in Oklahoma, so I cannot provide you with specific legal advice regarding the statute of limitations for any specific cause of action.

For a definitive answer to your question, I strongly encourage you to consult with an attorney in Oklahoma who is more knowledgeable regarding civil procedure in Oklahoma and state court interpretations of how the limitation of actions provided by state law apply to various situations. If you are interested in reviewing the Oklahoma Code of Civil Procedure yourself, it is available online at Oklahoma Statutes at the Oklahoma Legislature Web site.

The question of which statute of limitations applies to credit card debt is a common point of contention between consumers and credit card issuers in many states; consumers frequently argue that the limitations for "open accounts" or "contracts not in writing" apply to credit cards, while credit card banks argue that their accounts are based on written contracts. Unlike
standard written contracts, credit cards contracts are not for a fixed amount, nor does the consumer sign a new credit contract each time a loan is provided (i.e., each time a consumer makes a purchase).

However, creditors have argued, successfully in some cases, that the statute of limitations for "contracts in writing" should apply to credit cards, since the original agreement establishing the account was in writing. Basically, which statute of limitations is applied will depend on the decision of the court hearing the lawsuit in which statute of limitations is raised as an affirmative defense.

On several occasions, I have seen courts in Oklahoma apply the five year statute of limitations for written contracts to credit card agreements. However, I have also seen them apply the three year statute of limitations
for open and unwritten contracts. To determine which statute of limitations will likely apply in your case, you should consult with an attorney to whom you can explain the details of your case, allowing you to make a truly informed decision.

While I believe the information available on Bills.com is accurate, we cannot guarantee its accuracy, as the information we provide is very general and may not be 100% up-to-date. You must speak with an attorney in your state before making any decision about how to handle your financial future.

I wish you the best of luck in resolving your debts; for more information about the options available to consumers struggling with debts, I encourage you to visit our debt help section.

I hope that the information I have provided helps you Find. Learn. Save.

Best,
Bill
www.bills.com/blog/

Also, make sure to get a free financial health check-up with Bills IQ!

User Comments

1. Posted by Ronnie Davenport on Monday 8th December 2008 17:59

In Oklahoma, how long does the district attorneys office have before they file criminal charges on a person who has gone to jail and bonded out?

2. Posted by Jared on Tuesday 9th December 2008 07:22

I have no idea. You should find a local attorney.

3. Posted by Stephanie D. LeMaster on Wednesday 9th September 2009 15:31

I just would like to know the statue of limitations in oklahoma.

4. Posted by Bill on Thursday 10th September 2009 17:25

See the Bills.com page State Consumer Protection Laws and Exemptions.

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