RJM
Date: Thu, 04/02/2009 - 17:37
Since overdraft is a "revolving line of credit", the debt should
Since overdraft is a "revolving line of credit", the debt should be considered similar to "credit card debt" with the same Statute of Limitation.
The account was opened and closed while living in Missouri and a
The account was opened and closed while living in Missouri and am currently living now in Colorado
Since the account was open in Missouri, the SOL will be consider
Since the account was open in Missouri, the SOL will be considered for that state, not the state where you stay now. The SOL for the state of Missouri is 5 years for open ended accounts and so I don't think that the SOL on your debt has expired.
Quote:Since the account was open in Missouri, the SOL will be co
Quote:
Since the account was open in Missouri, the SOL will be considered for that state, not the state where you stay now. The SOL for the state of Missouri is 5 years for open ended accounts and so I don't think that the SOL on your debt has expired. |
ipoured, this is false. Dont listen to that.
The fact is this--one state has no jurisdiction over another. As such, since you currently reside in Colorado, then Colorado's laws apply. Dont know where novice got this information but it is bad info. Look on this site, there are tons of people in the same boat. SOL is from where you currently reside. Thats not to say that the original state's SOL couldnt apply again if you moved back there.
Colorado's SOL is 6 years for most debts, and I suspect that this debt would fall under that. Contract debts are 3 years, but this doesnt appear to be a contract debt. RJM is famous for not being able to validate anything--so send them a DV letter by certified mail and wait for their response. RJM is ridiculous to deal with, so be prepared for the usual nonsense.
debt
I thought the debt would be 'considered' in the state that you lived in, when you aquired the debt ( I don't have any info to back that up, however.....just thought that's how it was). Yep..you're right...SOL's are different for every state.
I think the only thing you would need to consider is if you were
I think the only thing you would need to consider is if you were to move back to MO before CO's SOL expires. That might toll the SOL for MO and you would pick back up where you left off.
Skydiver, when you say "toll" and "Pick back up where I left off
Skydiver, when you say "toll" and "Pick back up where I left off" does that mean when I move back to Missouri that none of the time spent living in Colorado counts towards the sol time?
That was me not skydivr. That is correct. If you move back to
That was me not skydivr. That is correct. If you move back to MO before CO's SOL expires, then it is possible that none of the time you lived in CO would count. If you are going to be a permanant resident of CO, then you need only worry about CO's SOL.
Sry about that, thank you Nascar. I wonder about the 2 years I
Sry about that, thank you Nascar. I wonder about the 2 years I spent living in Missouri after I defaulted and before I moved to Colorado counts towards the Colorado SOL. I have lived in colorado for 3 years now.