statute of limitations

does any1 know for sure when teh sol starts.. is it when you made your last payment or when you first defaulted?? by 1st defaulted i mean missed a few payments and then strted paying again then stopped without ever getting your account current.. ex: missed payments in 2000-2001 then it was reported on your cr..then paid for awhilein later 2001-early 2003?

I'm confused, I have been told that the sol on credit card debt (open account) is 4 years in florida not 5

They will sell your debt to a joe blow, say jhon receivables llc and they will try to get you to make a payment. Thats what they tried with me. It did not work...

My question pertains to SOL in NJ, does anyone know how long it is when concerning old debts....

New Jersey Statutes of Limitation

Conversion of an instrument for money: 3 years, (N.J.S.A.12A: 3-118(g)).

Sale of goods under the UCC: 4-years, (N.J.S.A. 12A; 2-725).

Real or personal property damage, recovery and contracts not under seal: 6 years (N.J.S.A. 2A: 14-1).

Demand Notes when no demand is made: 10 years. If demand made: 6 years from date of demand, (12A: 3-118(b)).

Obligations under seal for the payment of money only, except bank, merchant, finance company or other financial institution: 16 years, (N.J.S.A. 2A: 14-4) actions for unpaid rent if lease agreement is under seal, (N.J.S.A. 2A: 14-4).

Real estate: 20 years, (N.J.S.A. 2A: 14-7); Judgments: 20 years, renewable, (2A: 14-5); Foreign judgments: 20 years (unless period in originating jurisdiction is less), (2A: 14- 5).

Unaccepted drafts: 3 years from date of dishonor or 10 years from date of draft, whichever expires first, (12A: 3- 118(c)).

My boyfriend is being told that his wages will be garnished due to and old debt thet I feel has been too old to collect on due to the SOL. He has received several letters from a law firm threatening to garnish his wages... He has tried several times to make some type of payment plan with them when the debt was at a lower sum but all they wanted was a large lump sum...a debt that started out to be $2000.00 is now $20,000.00 due to intrest..I think that's crazy...Can they do this?

I have a question, pertaining to SOL. I live in PA, however..some of my old (outstanding) debts are frm other states. Do I go by PA state, or, by the state that the debt was occured in?

Lillady,

$2,000 to $20,000? How long has this debt been accruing interest? 100 years?

Seriuosly, though, how old is this debt? What type of debt is it? What is the date of last activity, or when did your BF last make a payment on it? Did your BF send out a debt validation letter?

And no, they cannot garnish his wages with the wave of their attorney collector magic wand. They would first have to sue your BF. And, more importantly win. Then they would have to obtain a court order to garnish his wages. So it's not likely to happen tomorrow.

My first thought is, this debt is way outside the SOL which is why the CA is already throwing out the "garnish your wages" routine. They're trying to scare him into paying. So if you can find out the answers to my questions and let us know, it would be a big help.

My BF received a certified letter stating that an application is being made by the plaintiff to the court for an order directing wage execution to his former employer(he just changed jobs). And that he needs to notify the clerk of the court and the plaintiff...So I guess they are going through with wage garnishment ...If I'm correct it looks as though this credit card debt is said to be from nov 2001...what now...any help is appreciated

The SOL you are thinking of refers to the amount of time a creditor has to file suit. This has already been done, so your BF has a new SOL date to look at: the date the creditor was awarded a judgment (or the renewal of a judgment). Judgments have attorney fees, court costs, and interest included...however, $20k for a $2k debt seems steep. Send a DV letter that requests a breakdown of the balance.

Try $38,000 balance owed on a $13,000 consol.loan in just 2 years!! Same bank!!

I started getting calls every single day about a 11 year old credit card debt with a bank that was class action sued for its illegal practices- Providian National Bank. In 2yrs they charged me $25,000 in fees on a 13,000 consolidation loan. I refused to pay a single payment unless they gave the 5.1% rate I was guaranteed.not 21%. the missed $250 payment was added as a purchase. I now owed 13,250. did that every month. After 4 months- they jumped the payment due to 465. and added that to the balance every month. They stopped sending me statements after 1.5 years.

After the second year I suddenly got a letter from them stating that having paid off my loan in full- I was now qualified for a pre approved 100k Platinum card!.

I think the debt was paid off by the banks insurance. I did order the emergency insurance with the payments added to my account. After 6 years the debt vanished from my credit report.

Suddenly now, 11 years later, this other agency- with no legal right to collect- is harassing me.I explained things but wont listen, I asked them not to call. They call every day anyway- ignoring the 10 day rule of no calls upon verbal request. They said the only way they'll stop calling is if I contest it.contest what? there is nothing to contest right? Now they started calling my brother- who recently lost his 4 yr old daughter and can't be dealing with this bull right now.

today I asked for their address to send the don't contact me letter. he said I have to contest it in the letter. That the debt will never go away because I owe it. Who sold them this loan? can insurance agencies sell the loans they paid off? Or did Providen both collect the insurance and sell the loan?

How do I deal with this. The insurance covered it- so why do they say I still owe it. I will NEVER pay one cent to them. Whats the email addy I can report them to?

is there anything I can say that will make them stop? A law I can throw in their face?
I live in Hawaii.

thanks!

If you tell them it is outside of the limitation period , are you not inferring by that statement that it is your debt , therby re starting the clock again ? Maybe would be better to write in the letter you have searched your records for the past x years and can find no record of payment, acknowledgement nor service towards any account of that description with the (stated period of the states SOL term) , and thus if it were to be proved by themselves that this account is indeed yours , it would consequently fall under the terms of the statute of limitations . That way you are not admitting it is yours, but by deduction from your records any such account they are describing is no longer valid.

I was wanting to know if on a SOL expired account does the last activity go by when it was last deliquent or as in my case a car that was voluntarily reposed last payment was mad in May I believe and then the car was turned over to the bank for repo. They had it until October when they sold it at actuion adn then sent me a letter saying that the $5,000 they got for the car went off the price, but then they charged me for the storage, and fixing it up some, new tail light that was fine and some other small stuff to it.

So what would be considered the last day of activity on this account the day I made the last payment or the day they put the money from auction towards the car.