Need to know Statute of limitations on old credit card debt

SOL by state
i decided not to post link here because of the advertisement on certian sites and didnt want to mislead anyone by sending them to a site that may promise them one thing or another anyway if you do a google search for
"statue of limitations by state" you will find websites with SOL by state and information, that also will explain the different types of debt ie:
Oral Contract,Written Contract,Promissory Note and Open-ended Accounts. i hope this helps

thanks,
Rob

What is the sol on a bounced check in Va.Please give the little and big details. thank you!

Hi I got contacted by a collector today on an outstanding debth that was from feb 27, 2004 the last time I made any payments on it where july 5 2003. I live in Az. They told me the last activity was feb. But then i found out from the creditor that my statue of limitations is over in July of this year So he was trying to get me to agree to a lump sum or a payment plan. What happens after the statue ends. It is a credit card from delaware

Once the SOL is over, no legal action is enforceable to collect the debt. However, CAs can still try to collect the debt. They can also file suit against you, but the case will go in your favor if SOL is over. Hope that makes sense.

BTW, CA cannot change the date of last activity, it is illegal. If your account is closed to SOL, you might negotiate with them and settle the account with a lower amount. Paid collection is a derogatory mark; however it is better than unpaid collection.

Efe

It does not matter where the credit card is from. It matters where you live. If the SOL is up in July, I personally wouldn't pay them. It would re-start the clock. Have you sent a letter demanding verification of the validity of this debt? If not do so.

Efe

I answer your question "what happens when the SOL is up?" At that time you are no longer legally obligated to that debt. If a collector contacts you about a debt out of the SOL, send a cease communiations letter. They can sometimes sue, but this is rolling the dice that you won't show up at court, and they'll get a default judgment. If you are ever sued over a debt that is out of the SOL, show up, and show that it is out of SOL. Also, judges don't take too kindly to idiots who clog up their dockets with frivolous lawsuits such as those filed by collectors on debts out of SOL.

I live in VA How would I find out the Sol in this State? Is there a website I could look?

Hi Easter,

The debt accounts in Virginia go out of the SOL period after 3 years from the date of last activity. Check when you last made the payment on this account. If the account took place long time back, perhaps before 7 years, it must be removed from your credit report also.

You can learn about the SOL factors in the link below:

http://fair-debt-collection.com/statue-limitations.html

The PA SOL for credit card debt has change from 6 years to 4 years. Which would apply, the SOL that was in effect on the date of last activity or what was in place when a CA decided to file a suit?

The date of last payment activity will be taken into consideration for the SOL factor. Check that you have made no payment within the last 4 years on the account. If the SOL is past, you are under no legal obligations to pay the account. The company can intend to take actions against you but you have a legal protection under the FCRA laws.

I have recently been contacted by a collection agency in PA that I owe 1200. + interest of 2800.00 for an account that was supposedly mine in the early 90's I have never heard of the company. I definitely is not my account. What is the SOL in PA>

DebL

Based on the date of first delinquency, your account might be past the seven years period reporting time. Under the FCRA laws, negative information is allowed to stay in the file for seven years only. The company can insert the item in your file only if they can prove that the SOL is renewed for this account. This can happen if they have your agreement that you are willing to pay the debt now. SOL in PA is for 4 years. Did you make any commitment to pay the debt? If not, dispute the item with the bureau as it happens to be a fraudulent reporting done by the company. The CRA must provide you the actual proof for inserting this information in your file. If they cannot, your dispute will appear stronger.

Pleas eb so kind to tell me what the limitations for NY are. I tried to understand the legal web site and really got confused! thanks so much!

The statute of limitations in New York is for six years.

My daughter was taken by ambulance to the hospital in October, 1998. We never received a bill or any communication from the Ambulance Co. We just received a notice from a colleciotn agency the other day. What is our obligation to pay?

Sue, ask the collection agency to validate the debt in writing. It must be surely past the SOL period if you have paid nothing within the timeframe.