Types of OPEN ENDED accounts

[cmscott16]

Hello, in Washington State the statute of limitations for open ended and revolving accounts is 3 years, while written contracts are 6 years. I am trying to figure out if a checking account closed due to overdraft charges and a negative balance would be considered an open account? I read one post stating that checking accounts are considered "open" but I would like further confirmation. Thanks.

[cmscott16]

Does nobody know the answer to this? Or should I be posting in another section?

[douginsea]

good question might get a better response in the credit forum...

[mca]

I think it is an open account but I don't want to say for sure cause I am not 100%

[cmscott16]

ok thanks. i just want to send a zombie debt sol type letter to a collection agency trying to collect on an old closed checking account. but i wouldn't want to send them a letter saying they are past sol and then get a summons in reply because I was trying to classify a checking account as an open ended account rather than a written contract.

[cmscott16]

for anyone interested, i just found this definition from about.com:

 

Definition: An open-ended account is an account that has a varying, revolving balance. A credit card is an example of an open-ended account.

 

So, by this definition, checking accounts with fees such as overdraft charges should constitute an open-ended account, since the the account has a varying, revolving balance.

 

I am not a lawyer, so please correct me if I am wrong.