Florida Statute of Limitations

Under Fla. Stat. Ann. § 95.011 et. seq. the statute of limitations on credit card debt is 4 years. If there has been no active activity on this account since 2018, then Florida people can claim that this debt falls outside the statutory limitation and it will be a very valid defense.

Florida Key Credit card Statistics

Average debt in Florida$11,916
Average number of late payments in Florida6.89%
Bankruptcy rate per 1000 in Florida4.8

Fair Debt Collection Practices Act

FDCPA Applies to Original CreditorsYes
Vehicle Exemption$1,000
Bank Account Exemption AmountNone
Wages Exemption100% for head of family and 75% for non-head of household

Florida Gift cards and Gift certificate Statutes

Definition of Gift Card/Gift Certificate :
Fla. Stat. §501.95
"Gift certificate" means a certificate, gift card, stored value card, or similar instrument issued in exchange for monetary consideration when the certificate, card, or similar instrument is redeemable for merchandise, food, or services regardless of whether any cash may be paid to the owner of the certificate, card, or instrument as part of the redemption transaction.
"Credit memo" means a certificate, card, stored value card, or similar instrument issued in exchange for returned merchandise when the certificate, card, or similar instrument is redeemable for merchandise, food, or services regardless of whether any cash may be paid to the owner of the certificate, card, or instrument as part of the redemption transactionn.
Expiration Date Provision :
Fla. Stat. §501.95
A gift certificate or credit memo sold or issued for consideration in this state may not have an expiration date, expiration period. However, a gift certificate may have an expiration date of not less than three years if it is provided as a charitable contribution when no consideration is given to the issuer by the consumer, or not less than one year if it is provided as a benefit pursuant to an employee-incentive program, consumer-loyalty program, or promotional program when no consideration is given to the issuer by the consumer, and the expiration date is prominently disclosed in writing to the consumer at the time it is provided. In addition, a gift certificate may have an expiration date if it is provided as part of a larger package related to a convention, conference, vacation, or sporting or fine arts event having a limited duration so long as the majority of the value paid by the recipient is attributable to the convention, conference, vacation, or event. An issuer may honor a gift certificate that has expired on or before the effective date of this act.
Fee Provision :
Fla. Stat. §501.95
A gift certificate or credit memo sold or issued for consideration in this state may not have any type of postsale charge or fee imposed on the gift certificate or credit memo, including, but not limited to, service charges, dormancy fees, account maintenance fees, or cash-out fees.
Does not apply to a gift certificate or credit memo sold or issued by a financial institution, as defined in §655.005, or by a money transmitter, as defined in §560.103, if the gift certificate or credit memo is redeemable by multiple unaffiliated merchants.
Escheat Provsion :
Fla. Stat. §717.1045
An unredeemed gift certificate or credit memo as defined in §501.95 is not required to be reported as unclaimed property. The consideration paid for an unredeemed gift certificate or credit memo is the property of the issuer of the unredeemed gift certificate or credit memo. An unredeemed gift certificate or credit memo is subject only to any rights of a purchaser or owner thereof and is not subject to a claim made by any state acting on behalf of a purchaser or owner. It is the intent of the Legislature that this section apply to the custodial holding of unredeemed gift certificates and credit memos. However, a gift certificate or credit memo described in §501.95(2)(b) shall be reported as unclaimed property. The consideration paid for such a gift certificate or credit memo is the property of the owner of the gift certificate or credit memo.