credit card debt

[billymcd]

In 2000 to open a business, I borrowed money against some of my credit cards and because at the time, my credit was so good, I was able to get money from credit card companies just by signing my name. Unfortunetely things did not work out and even though I have paid some of the accounts off, some I was not and am not able to pay off at this time. I have managed to forgo bankruptcy so far. I know the SOL in SC is 3 years. I am being contacted by a law firm about one of these old debts and they are saying they are going to get a judgement against me for one of these debts. Even if the SOL is out, do I still have to appear(if a judgement is issued) and declare it no good because the SOL has run out.
Thanks

 

[Michael Wechsler]

In 2000 to open a business, I borrowed money against some of my credit cards and because at the time, my credit was so good, I was able to get money from credit card companies just by signing my name. Unfortunetely things did not work out and even though I have paid some of the accounts off, some I was not and am not able to pay off at this time. I have managed to forgo bankruptcy so far. I know the SOL in SC is 3 years. I am being contacted by a law firm about one of these old debts and they are saying they are going to get a judgement against me for one of these debts. Even if the SOL is out, do I still have to appear(if a judgement is issued) and declare it no good because the SOL has run out.
Thanks

What do you mean the statute of limitations has run out? The statute of limitations for enforcing a loan agreement does NOT start on the date of the loan. Please explain how you are performing your computations.

 

[billymcd]

explanation

No payments or acknowlegement of the debt has been made since 2001. The debt was written off by the original creditor and I am assuming purchased by someone else.