How the SOLs would change?
Date: Thu, 02/18/2010 - 03:54
Also, if there is a significant amount of debt acquired after marriage and since California is a community property state, can the collectors come after my spouse for the debt? P.S. the debt was generated in GA.
Well I???m not a finance expert but I can definitely sugges
Well I???m not a finance expert but I can definitely suggest you regarding certain things. The primary thing is that most large collection agencies have lawyers, who writes letters on their behalf and tackle the disputes. While some lawyers are hired when required.
As your collector/creditor is located in a different state, they might not attempt for a law suit. Probably they will call or mail letters as it is quite expensive and will usually nullify the benefits of civil judgment. But in California they can collect on your spouse???s assets to quench a civil judgment.
Moreover the creditors/CA s are less likely to file a legal suit if the dollar amount of the defaulted debt is quite less. On the contrary the chances are high if your reliable assets are more.
Is it a disputed debt? As the creditor or CA cannot file a case if the debt is disputed.
Quote:Originally Posted by AnonymousIf I have switched from Geor
Quote:
Originally Posted by Anonymous If I have switched from Georgia to California. Also, if there is a significant amount of debt acquired after marriage and since California is a community property state, can the collectors come after my spouse for the debt? P.S. the debt was generated in GA. |
a couple of questions
how old is the debt
how long were you in GA
were you married in california or georgia
you see if you lived in georgia long enough for that SOL to expire then it can't change once you moved to california since it was incurred in georgia.
Hello all and thanks for your replies :) Paul, we acquired th
Hello all and thanks for your replies :)
Paul, we acquired this debt while we were staying in Gerogia during 2006. We ran up our credit cards to pay the medical bills since we didn't have insurance.
Yeah, we were married in Georgia and lived there for eight years before moving. We moved to Cali only last year as my wife has got a new job.
Chris S, we owe around $7k in total, and no, its not a disputed debt. Do you think they would take the time to file a lawsuit against us?
It???s good to hear that its not a disputed debt. I believe
It???s good to hear that its not a disputed debt. I believe, you are aware of the fact that statute of limitations is the maximum time span for a creditor/CA to file a legal suit in federal courts to claim the outstanding amount.
Customarily, the time limit lies between 3-10 years after the moment you sign up a contract of credit or the last activity date mentioned on your credit report.
As far as my knowledge is concerned your debt falls under the category of Open - ended Accounts and according to the SOL of Georgia it is actually 4 years. But as per written contracts it varies up to 6 years.
So, keep your fingers crossed.