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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Thu Aug 14, 2008 12:41 pm
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| Nobody usually does. I think they m ake there money by charging so much to get the loan. If I remember right I think if you qualified (yes you had to qualify) for say $1,000 you had to pay like $175 for the advance. We only did this once years and years ago when we had to have the money. I would advice people to go elsewhere. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Sun Nov 09, 2008 11:40 pm
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| What is it you can do for us? Any advice? We are not bad people here. We are good people caught up in bad times. |
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sharon
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Subject: credit cards
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Sun Jan 11, 2009 7:03 am
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| I just got a summons to go to court for a credit card that I was told was closed. It was opened in 1989 when I was in PA and they are sueing me in MD. What statutes should they go by? PA or MD? |
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Doc
Joined: 02 Dec 2008
Doc's page
Posts: 203
Location: McKinney, TX
954 Magic Points
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Sun Jan 11, 2009 6:57 pm
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The date of first delinquency is the item that starts the obsolescence (7 year) period, per the FCRA. Nothing else matters when determining the true AGE of an account.
DLA is commonly used on mortgage reports and the like, but {technically} that is not the definitive determining factor. The problem with this methodology, is that many loan and credit card underwriters (the people who actually decide on borrowers' credit-worthiness) do not understand this principle, and borrowers are often declined based on DLA rather than true account age(s).
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-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site... I don't wanna sell you anything, I just wanna increase my traffic, and push my site up in the search engine rankings...
http://www.omegacreditrepair.com |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Mon Jan 12, 2009 7:15 am
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Hi sharon
The statute of Limitation for open ended accounts is 4 years and since credit card debts fall under open ended accounts, the SOL will be 4 years. However, SOL starts from the date you have make the first missed payment. Now, Since the credit card was opened in PA, the SOL in PA will be taken into account. If your SOL has expired, you need not bother about the debt, but you must file a reply to a summon, else the creditor can bring a default judgment against you.
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Keep in touch
Carol |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Mon Jan 12, 2009 5:30 pm
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| If and when it does go to court you will be able to use the SOL as your defense as long as you have not made a payment in the last 4 years on this account. Most times these are junk collectors trying to scare you into making a payment so the SOL will start over. Most times they willnot even proceed with the court hearing or will not show. As long as you have not made a payment in the last four years you should be fine. |
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