SOL advice regarding a debt for a broken lease
Date: Thu, 02/09/2006 - 11:33
My spouse has a collection account on his report - last reported date is 7/2001. We have made many very small payments since then, so if we were to stop paying, would they try to hit the credit report again, or do you think we can wait it out?
Also this debt was for a broken lease - is there any way for me to find out whether the apartment was rented out during the time we were paying for the broken lease? I believe it is the law that if a tenant is evicted and a new tenant moves in under what would have been the old tenants lease, the renter cannot collect double rent. This was in 2000.
The statute of limitations (SOL) determines whether you can be f
The statute of limitations (SOL) determines whether you can be forced to pay a particular debt in legal terms and if any specific legal actions can be taken against you for non payment. Before you consider paying it off, you must check the statutes of the state where this debt took place and the date of last payment made in this account. The date of last reporting in your credit report is not related with the calculation of the statutes.
You said that you have made payments towards this account and have not stopped yet. At this situation, the date of last activity is still current and the SOL will be applied from the date when you will become delinquent. From this day, as per the statutes in your state, you will be under legal collection period and the creditors can take chances of filing a lawsuit if needed. Most of the times, they don't intend to do if you keep paying them regularly.
If you have been the new tenant and the previous tenant has been evicted, the lender must not collect the rent doubling it. You must have signed a fresh contract with him and you should not be held responsible for the earlier non payments. Read your agreement copy and get more information about the contract.
I'm sorry I didn't clarify - I was the previous tenant, so I'm w
I'm sorry I didn't clarify - I was the previous tenant, so I'm wondering if I can find out whether anyone else took over the apartment for what would have been the duration of my lease.
The laws on the renting of an apartment can be checked with the
The laws on the renting of an apartment can be checked with the local housing authority or with a lawyer. If anyone else has taken over the apartment or not, you can get it verified with the tenant's union in your area