Montana SOL.....

[heather_dawn]

Montana's SOL is 5 years on an Open Acct. and 8 years on a Written Agreement. Can someone clarify what exactly that means?

Chris and Heather:confused:

[Lian]

It is in reference to the type of credit agreement covers the account.
Open-end accounts refer to open-ended (revolving) lines of credit, such as credit cards.
Written agreements are contracts with specified terms of debt and payment, such as installment loans.
Credit cards are covered as open-end accounts.