When does the SOL start on a no interest/payment plan?
Date: Thu, 05/12/2011 - 12:18
Here is a good question. I was talking with someone about a debt they had. They bought furniture or a matress on a 1 year no payment no interest plan. They never made any payments on it. When does the SOL actually start? I told them it was probably when the year was over and the first payment was actually late, but I really don't know.
The Sol starts from the first date of default on a particular de
The Sol starts from the first date of default on a particular debt. In your friend's case, it will start when he receives the bill and fails to repay it.
