SOL on a debt I had back in college

wow, that must be quite a debt. I'm assuming this is not a consumer debt..Is it by chance IRS related?

At this point, you need to do exactly what your attorney says. Ask him if it's ok for you to stop direct deposit on your paycheck. Do not do this without his permission, I'm serious about that.

If you could be more specific about the situation, we could possibly help you more.

You should check on the statutes of your debt account. There are greater chances of the expiry of the SOL in your state if the payment has not been done since a long time. I will be suspicious if it is getting reported in your latest credit copy.

No it is not a IRS debt it is a credit card. I opened the acct in 98 and lost my job in 99. It has transfered 5 times since then and i have letters from 3 of them with 3 different amounts 6k 9k etc.

So it is a consumer debt...

This smells awfully fishy to me..I would assume that your attorney will make sure this debt gets validated..Definitely check the SOL on this, Keystrokes is right.

Have you received a notice of judgement or any other sort of documentation from the court? A CA doesn't freeze your account, the courts do. Is it possible mail has been lost in a shuffle? Could you have missed a court date?

One single payment now will renew the SOL period from the beginning. Be careful. Let's say, if the company didn't have your account info by now, they will try for some strong actions once you do a payment because that will be your weaker move. And they are waiting for you to make such a move.

I recenty (back in May) bought a house and in
August i did receive a court order which i responded to. I sent another VOD to both the CA and to the lawyers representing them. I have not had a response other then the judgement.

If after all this the judgement is dropped, what can i sue them for? I have had numerous bounced checks because of this and my credibility is shot with local companys.

A little more info!! In 99 when i lost my job the company was calling me there. She told them that i no longer worked there. They called so many times that my employer told me to tell them to stop. I called and told them not to call there again or i wouldn't ever make a payment again. They did!!!! Since then no payment has been made.

How have they made you bounce checks? It always your decision to write a check for something, not anyone else's. If you wrote a check to someone how is it their fault when it bounced, unless they illegaly broke into your checking account and started withdrawing money without your permission. Short of that it's your own fault at writting checks that bounced.

If you haven't made a single payment since '99 then that is where the date begins collectiong for the SoL.

Let me give you an example. Lets say for arguments sake the SoL in NY is... 4 years. I don't know for a fact that, this is just an example. Let's start with the years December of 2000-2004 and assume your last payment was December of 99 and you haven't made any payments or attempts at payments since then. This would make the debt after the SoL period and is not enforacable by collections but it would stay on your credit report, (The SoL does not resolve you of responsibility).

Now if you had made a payment you would need to start from the date you made your last payment or attempt at a payment.

Well........If someone puts a freeze on your accounts suddenly would all your checks be cleared???? Or would you have checks still out there that now wont be paid????

FYI!!! Are you even reading my previous posts????

fyi---well are you???

I apologize, I had to go to work. Close outs are always tough for me and I get stressed and I did miss that part of the first post. I apologize.

I would suggest you contact anyone who directly deposites funds into your account and explain the situation to them and see if they can mail you a check. It might take a day or two longer but at least you will have it in your hands. Cash it at one of those check cashing places, yea you will have to pay a slight fee but it would be worth it to have cash in your hands instead of inaccessable in your banking account.

Could be a lot of different factors at play. The card agreement could have had a choice-of-law clause that named a state with a longer than normal SOL. Or it could be they got a default judgment long ago (some states, like NJ, let a judgment stand for 20 years) and are just now catching up with you. I'm betting its the latter, because I don't know of any state where accounts can be frozen before judgment is entered on an unsecured debt. (If anyone knows different, I'm always willing to be convinced.)

BTW - A payment does not renew the SOL period. That's a myth and it's one of the things that always makes me nervous about sites like this. A lot of incorrect or incomplete legal information is shared and repeated until EVERYONE is convinced its true.

What it can do, though, is renew the reporting period, i.e., the period of time under the FCRA in which the creditor can put the item on your credit reports.

The judgement was dated 8-8-06. I do not beleive that it had a choice of clause law.

One of the posts above isnt mine? yet it says it is from me??? How wierd!!

Why would the letters that came from each different CA be all different amounts? (large differences)

Some collection agencies charge collection fee's. And sometimes depending on your state and card agreement you might also be charged continued intrest.

I just heard from my lawyer. The judge signed the papers throwing out the default judgement. Now I have my chance to tell my side!!!!! Wooohoooo

That's great news! Good Luck...Karen

Good for you! Things have a way of working out for the best..Good luck, and please keep us posted. We're rooting for you.

Thanks all..........I appreciate all your support. I will keep in touch and let you know what happens.

Well the judge threw out judgement and we have a new court date. 10/16 I cant wait

Statutes of limitation for debts in writing can be pretty long...my state is 15 years.

My lawyer called and said "the collection company" wants to make payment arrangements that will suit my budget. Thats so funny that now they are willing to work with me. I am not going to agree to anything right now until court on monday to see if the judge throws it all out. Statute of limitations in my state is 6 years and it has been 7.

My lawyer called and the collection company now wants to deal. They will cut the amount down by half and take payments. He also said that they have proof of DLA date. They state it is the date they closed the account and sent it to collections. I was under the impression that the DLA was date of last payment. Does anyone know which is DLA. If so where is this stated so that I have proof to bring with me to show him.

collection company is trying to settle so they dont have to go to court. LMAO They wanted me to sign a statement saying I wouldn't file any countersuits. What do you think about that???

sounds like they're a little bit scared of you!!! Nice job!