My friend has made a payment on a debt on which the SOL period had expired. Is there any way to stop the SOL period from starting again? Can she get back the amount she recently paid?
In your case, the SOL will not start in most of the states. The creditor
can only keep his fingers crossed and wish your friends' honesty
continues. However, if your friend signs any written agreement for
making the payments, this will reinstate the contract and start a new
SOL period. Legally it is called "reaffirming the
debt."
Often
the collection agencies pursue to start making payment and then to
negotiate a settlement. But, never agree to that. Always check the SOL
period before you start negotiating and making payment.
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In your case, the SOL will not start in most of the states. The creditor can only keep his fingers crossed and wish your friends' honesty continues. However, if your friend signs any written agreement for making the payments, this will reinstate the contract and start a new SOL period. Legally it is called "reaffirming the debt."
Sub: #1 posted on Wed, 04/26/2017 - 07:11
(Posts: 331 | Credits: 32.98)
The SOL period has started again since your friend has already made a payment
There is no way to stop it now.
Sub: #2 posted on Wed, 04/26/2017 - 22:30
(Posts: 669 | Credits: 99.12)
Sub: #3 posted on Thu, 05/04/2017 - 06:50
Industry Expert
(Posts: 2670 | Credits: 372)