SOL on Credit Card debt in California

Tiggertales

When a business is dissolved, all the paperwork is required to be submitted with the financial institutions so that they are notified about the situation. It seems that the credit company was not informed about the business getting dissolved and that is the reason the debt has added up with interests in his account. Ask your husband to look out for the documents that can legally prove that the expartner is responsible for this debt. But chances are, the credit company will not find this defense to be a strong one because they should have been informed about it. And since the partner can't be found now, you are in their target.

Now, looking at the other side of the story is the fact that the date of last activity in this account is 6/1999. The statute of limitation in California is 4 years and this takes the debt out of the legal collection period.

It seems that Gulfstate Credit has been transferred this debt by American Express. As per the state laws, the SOL is calculated on the debt where it actually took place and the date of last activity on it.

Considering the fact that the debt is out of the SOL period, you can't be forced to pay it and can't be entered into a lawsuit. The SOL does not restrict the lender or the collection agency to attempt collections, but you can escape it legally if the debt is out of this period.

Make your side stronger by sending letters to the company and request for information. Send your letters certified with return receipt requested. You will be documenting everything for your future use if it takes a legal turn. Please keep us informed on this matter.

Thanks. Since he is out of the SOL period, then I assume a letter to the collection agency disputing the debt and bringing to their attention that the SOL period has been exceed should suffice? Otherwise, we have not received any phone calls at all and I am completly okay with just trashing their written correspondence now that I know they can't sue us.
Regarding bounced checks....the ex partner also wrote and a bad check, but it was done one day before my husband file the papers. Since it was my husbands SS#, they have reported it on his credit report. However, no one has taken any action to collect on this bounced check. The check was a NSF March 1999. Is there an SOL on bad checks? And can it be removed from the credit report after 7 years as is the case with credit card debt?
Thanks, this is a great site....I have learned a lot!

Writing a bad check is not good because it has lots of unpleasant consequences in the future. I will write them here in my next post. Please do have a look later.

However, now the point we are discussing is whether there are any state laws for writing checks. You need to check the state laws for this purpose. Some states have a specific statute to rule over the uniform commercial code. A check is a negotiable instrument and governed by the uniform commercial code. To have the bottom line idea, you should check the state laws and the uniform commercial code and the SOL for collection on checks.

Even if the check was written and signed by the other partner? Does that still make my husband resonsible because it was his SS# on the bank account? (The partner was named on the checking account and thus had authority to sign checks. The bank account was under the Business name).
Thanks,

Since the partner was given the authority, he wrote the check. Since your husband’s SSN# is appearing in the bank account, it perhaps, makes him responsible.

But the eventual fact is that the debt is out of the SOL period. So, there is something less to worry on it.