statute of limitations

[junker]

regarding statute of limitations
if you live in a state that has a 4 year sol and that time is up, then you move to a state with a longer sol. say 10 years, which states sol prevails. the accounts were opened in the 4 year sol state. also if sol is up and they cant sue to get judgement or garnishment, what other legal options are available to collect except harrassment. or do they have other options thanks

[keepmine]

Depends on if your new state has a borrowing statute or not. What are the states involved?
Also, just because a debt is SOL, it does not mean you can't be sued. You have to respond and raise the SOL as an afirmative defense.

[junker]

sol

the cc loans were taken out in California, which i believe is 4 years sol, i moved to Florida which also is 4 years. but i am thinking of moving to Oregon which i understand has a much higher sol. i think 10 years these loans havent been paid since 2001 and were taken out in California. so you are saying sol is not a absolute defense, otherwise why would they even try and take you to court if they know for sure they would lose?

[HHM]

SOL is not a solution to debt. The debt is always going to dog you, one way or another, whether it be by it continually being reported on your credit report (although old debts are supposed to fall off after so many years, 7-10, this provision is rarely followed, and again, would be up to you to try and enforce ie), by 3rd party debt buyers continuing harassing collection efforts...and yes, even lawsuits.

As has been pointed out, SOL is merely an affirmative defense to a lawsuit that actually gets filed...however, you have to appear in the lawsuit to raise the defense. And if you move around (as you have been doing) and do not update your address with these creditors, you may not even get notice of the lawsuit. Thus, the creditors can get a default judgment against you, despite the SOL. At which point, you would have to go back to the jurisdiction in which the judgment was taking and try to quash the judgment (or file BK).

[emoney]

First debts will be removed from your credit report after seven years, it may take some work but it can be done. As a mater of fact most CRAs have software that will cause it to drop off before seven years has passed.
Now for the SOL question, in most CC applications you agree the law to be used in in South Dakota or Delaware that have SOL of up to ten years for contracts. Even if the debt was made in a state that had a SOL of two or three years the debt could be sold to a collector before the SOL was up to one in a state with a ten year rule.
regards,
emoney

[keepmine]

Even if the debt was made in a state that had a SOL of two or three years the debt could be sold to a collector before the SOL was up to one in a state with a ten year rule.


Where the debt collector is located is unimportant. If you get sued, they sue you where you reside and, the SOL is determined by the laws in that state.

[HHM]

When it comes to the SOL, there is what is "supposed" to happen and then there is what "actually" happens. My posts generally state what "actually" happens.

As e-money pointed out, odds are, the Credit Card agreement has you subject to either the jurisdiction of Delaware or South Dakota, which have 10 year statute of limitations. Also, no lawsuit should be filed after the expiration of the SOL, but some still get filed anyway because the plaintiff is relying on the fact that you will not respond (on a side note, I believe an attorney that files a lawsuit that they have some reason to believe is outside the SOL, can probably be disciplined by the State Bar for violation of the rules of professional conduct...but to do so, someone would have to complain).

With regard to credit reporting...closed accounts that have had NO activity for 7+ years are supposed to be deleted from your credit report. However, as delinquent debts get sold and resold, the buyer continually updates your CRA...they are NOT supposed to do so, but they do anyway. Moreover, even if you take the time to dispute the CRA, odds are, your old debt will pop back onto your credit report as it is sold to the next buyer.

[keepmine]

Where are you guys getting this 10 year SOL stuff.
It would appear both De. and Sd. has far shorter SOL's.

http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml

[junker]

thanks for all the info, i did find out i was mis informed about Oregon, cc debt there is 6 years not ten, also i see that Delaware and South Dakota are both also 6 years. Rhode Island is the only state that has 10 years. the link for sol also stated the state i live in at the time would be where i would be sued. so i think i am safe as far as time limits go even if i decide to move to Oregon, as these debts are close to 6 years old now and definitely over the 4 years for Florida. also, are you saying everytime they sell the note to a different vulture, they can keep the cra active, even past 7 years? even though nothing has been paid on it

[keepmine]

They may try and reage it which as HHM pointed out is illegal. Usually a dispute with the CRA as obsolete and illegally reaged by subscriber will get it deleted.
The FTC appears to be focusing on collection agency reporting. NCO paid a record fine for reaging.

http://www.ftc.gov/opa/2004/05/ncogroup.shtm

and the IL AG has sued Arrow over a lot of issues including reaging and filing suit on time bared debts.

http://www.illinoisattorneygeneral.gov/pressroom/2007_01/20070125b.html

If you wish to play the SOL game, I'd suggest a couple of consumer boards that deal more with debt collection pratices than, bk.
Try www.creditboards.com and www.creditinfocenter.com

[keepmine]