Thanks guys. I was reading about the SOL for credit cards in Tennessee on Whychats site. If I understand it correctly, Credit Cards aren't contracts, but rather open accounts, so the states 6 year SOL doesn't apply. The 3 year SOL applies because a credit card is a personal line of credit.
But from how the law reads, the "personal" part has to do with property. The 6 year SOL it talks about is for "contracts" not otherwise expressly provided for, but since a credit card is not a contract, that wouldn't really apply, either. It's almost like TN has no SOL for credit cards at all.
Open Accounts : 3 years
28-3-105. Property tort actions - Statutory liabilities.
The following actions shall be commenced within three (3) years from the accruing of the cause of action:
(1) Actions for injuries to personalor real property;
(2) Actions for the detention or conversion of personal property; and
(3) Civil actions based upon the alleged violation of any federal or state statute creating monetary liability for personal services rendered, or liquidated damages or other recovery therefor, when no other time of limitation is fixed by the statute creating such liability.
This is the INCORRECT statute that was previously quoted for a 6 year SOL for Open Ended accounts,it is the CORRECT statute for WRITTEN contracts
Rent - Official misconduct - Contracts not otherwise covered - Title insurance - Demand notes.
(a) The following actions shall be commenced within six (6) years after the cause of action accrued:
(1) Actions for the use and occupation of land and for rent;
(2) Actions against the sureties of guardians, executors and administrators, sheriffs, clerks, and other public officers, for nonfeasance, misfeasance, and malfeasance in office; and
(3) Actions on contracts not otherwise expressly provided for.
(b) The cause of action on title insurance policies, guaranteeing title to real estate, shall accrue on the date the loss or damage insured or guaranteed against is sustained.
(c) The cause of action on demand notes shall be commenced within ten (10) years after the cause of action