Vermont Statute of Limitations

Under Vt. Stat. Ann. tit. 12, § 506 et. seq. the statute of limitations on credit card debt is 3 years. If there has been no active activity on this account since 2019, then Vermont people can claim that this debt falls outside the statutory limitation and it will be a very valid defense.

Vermont Key Credit card Statistics

Average debt in Vermont$9,625
Average number of late payments in Vermont2.84%
Bankruptcy rate per 1000 in Vermont1.7

Fair Debt Collection Practices Act

FDCPA Applies to Original CreditorsYes
Vehicle Exemption$2,500
Bank Account Exemption Amount$1,100
Wages Exemption75%

Vermont Gift cards and Gift certificate Statutes

Definition of Gift Card/Gift Certificate :
Vt. Stat. Ann. tit. 8, §2701
"Gift certificate" means a record evidencing a promise made for consideration by the seller or issuer of the record that money, goods, or services will be provided to the holder of the record for the value shown in the record. A "gift certificate" includes, but is not limited to, a record that contains a microprocessor chip, magnetic strip, or other means for the storage of information that is prefunded and for which the value is decremented upon each use; a gift card; an electronic gift card; a stored-value card or certificate; a store card; or a similar record or card.
“Loyalty, award, or promotional gift certificate” means a gift certificate that is issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in connection with a loyalty, award, or promotional program and that is redeemable upon presentation to one or more merchants for goods or services or that is usable at automated teller machines.
Expiration Date Provision :
Vt. Stat. Ann. tit. 8, §2702
The paid value of a gift certificate sold or offered to be sold shall be valid for not less than five years after its date of issuance or after the date funds were last loaded onto the gift certificate, whichever is later.
A gift certificate not clearly marked with an expiration date or for which the expiration date is not otherwise made available as provided in this section shall be deemed to have no expiration date.
 
Vt. Stat. Ann. tit. 8, §2702a
A loyalty, award, or promotional gift certificate shall clearly and legibly set forth the following disclosures, as applicable: (2) The expiration date for both the paid value of the gift certificate, if any, and the promotional value of the gift certificate, if any, which shall be included on the front of the gift certificate.
Fee Provision :
Vt. Stat. Ann. tit. 8, §2703
Prohibits dormancy fees, latency fees, issuance fees, redemption fees, or any other administrative fees or service charges in connection with a gift certificate.
 
Vt. Stat. Ann. tit. 8, §2702a
A loyalty, award, or promotional gift certificate shall clearly and legibly set forth the following disclosures, as applicable: (3) The amount of any fees that may be imposed in connection with the gift certificate and the conditions under which they may be imposed, which shall be provided on or with the gift certificate; and
(4) If any fee is assessed against the gift certificate, a toll-free telephone number and, if one is maintained, a website address that a consumer may use to obtain fee information, which shall be included on the gift certificate.
Escheat Provsion :
Vt. Stat. Ann. tit. 27, §1241 et seq.
Gift certificates are not specifically included.