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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
111 Magic Points
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Subject: credit
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Tue Dec 16, 2008 6:12 am
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| Alot of different views and opinions on the SOL. I've heard, TOO when the SOL is up, they can't 'touch' you. I don't know for sure, though. I've had CA's trying to collect debts, even AFTER a VERY long period of time.....after 7 years. Gosh.....kinda crazy. |
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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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Tue Dec 16, 2008 6:47 am
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The court does not check whether the SOL has expired or not, it gives its verdict on the basis of the case filed by your creditor. If you are unable to present yourself to the court, you should appoint a lawyer to defend your case else a default judgment may be passes against you and the creditors can use this default judgment to recover the outstanding debt. However, even if a default judgment is passed against you, you can always file a motion to vacate the default judgment.
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Tue Dec 16, 2008 12:13 pm
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Hi Chargers
Statute if Limitation varies from 3 years to 10 years and depends upon the state where the loan agreement was made. Now since the negative listing stays in your credit report for seven years from the date of your last payment, the statute of limitation may not expire even if the debt no longer gets listed in your credit report.
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Where there's a will, there's a way !! |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Tue Dec 16, 2008 2:34 pm
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| This is very true. soemtimes the debt depending on the state can fall off your report but if you are in the states with those longer statute of limitations then you can stil be sued even if it is not on your report. If this is the case I would keep a copy of my credit report handy for after it falls off just in case you need to refer to it for dates or anything else. |
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stacey
Guest
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Subject: South Carolina
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Thu Jan 28, 2010 4:01 pm
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| What is the Statute of limitations for SC? |
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