Could Someone Please Help Me With A Rather Sticky Situation
Date: Fri, 01/22/2010 - 17:17
Five years ago I moved to a new state to be on my own. I didn't know that I didn't know about a lot of things and when credit cards were thrown at me I started to abuse them. I ended up broke as a joke and got involved in hard drugs, actually that was what caused a lot of the being broke part.
Since then I sobered up and went back in school and now I'm starting my life over. Sort of... I still have a list of defaulted debts when I look at my credit report. The date reported keeps being more current, but I know I havn't used drugs or credit for five years now!
I have one particular account on my credit report that's for 17 grand! I know it must be from interest and fees that they've piled on.
Well here's the thing. I know it's past SOL, but I did move out of the state and I didn't leave a forwarding address. The creditors don't know when I moved but I did get a new driver's license in a new state this year.
So here are my four questions:
1. Can they prove to have my SOL tolled till I move back to that state?
2. If all these derogatory reports should fall of in 7 years, is that dependent on whether SOL gets Tolled?
3. If when I move back to the state where I owe money and they get a judgment against me, does that go back on my credit report and start another 7 to 10 year mark?
4. I hope I havn't jinxed myself but how come I havn't been sued yet for 17 grand? I check my experian report and there's no judgments against me. Is it because they know that I have no job or assets?
Hang in there, I just wanted to acknowledge your post. It's a li
Hang in there, I just wanted to acknowledge your post. It's a little slow here on the weekends but keep checking back for replies, this is not my area of expertise.
Quote:Originally Posted by ShazzersHang in there, I just wanted
Quote:
Originally Posted by Shazzers Hang in there, I just wanted to acknowledge your post. It's a little slow here on the weekends but keep checking back for replies, this is not my area of expertise. |
Thank you so much for replying. :)
1. No, the SOL does not stop or pause while you are out of state
1. No, the SOL does not stop or pause while you are out of state. They could have served you in another state. It is their responsibility to find you.
2. Credit Reporting limits of "dropping off" old accounts is different than the SOL for filing lawsuits on a debt. One is not dependent on another.
3. If they receive a judgment against you it then goes on your credit report under the PUBLIC RECORDS section of your report and as it is a new entry that entry stays for 7 years.
4. I don't want to guess why you were not sued. I wish I hard the formula. I see those with an $800 debt living in an apartment get sued while the $18K debt with a house and good job not get sued and vice versa. There seems to be no rhyme or reason.
as far as number four they have to find you to serve you to sue
as far as number four they have to find you to serve you to sue you, since you did not leave a forwarding address, that is probably why.