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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Sun Sep 07, 2008 2:35 pm
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| Floridas statutes are not real clear. I looked them up for another postere and it states if the debtor leaves the state it stops the SOL. I posted the write up on another post for you and you didn't answer what you thought. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3996
1079 Magic Points
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Sun Sep 07, 2008 8:44 pm
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I seen you posted, but when I looked it up I did see all that detail, glad that someone else picked up on it. That is why it is good to have more than one set of eyes on something, we all see different things.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Tue Sep 09, 2008 2:06 am
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| Can you believe ther is a SOL like this? Talk about a debtors prison..now you can not even move or you will be locked inside the debt forever. |
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jenickki
Joined: 12 Aug 2008
jenickki's page
Posts: 8
502 Magic Points
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Subject: Bogus Validation Letters?
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Tue Sep 09, 2008 7:12 pm
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Your wish is my command  I'm from PA and the SOL here is 4 years. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Tue Sep 09, 2008 11:14 pm
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| I am glad. I don't like the fact that I have debt I can not pay but I also don't like the fact that a $500 credit limit rolled over 4 times to a huge amount. Sad fact is if it was still the original amount i could probaly pay it. Some states the SOL is like 6 years. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3996
1079 Magic Points
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Sun Sep 14, 2008 11:45 pm
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| Depends which one you are inquiring about. Cap. one (off credit rec. now) or Providian, which Midland has hed for sometime now and are total @@@holes. I tried a couple times to see what they had to offer and they still want a staggering amount. On top of that they continue to add fees on every month. Before Providian sold it the amount after all those OTL fees and Late fees was $1600 (on a $500 card). Ands nor it is $2300 and going. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
107 Magic Points
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Subject: sol
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Tue Sep 16, 2008 11:24 am
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| Hey, JENICKKI..........I live in PA, too. I thought the SOL, in PA, was 6 years. OR...is it 4 years just for CC debt? Can ya 'enlighten' me, please? Thanks. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Tue Sep 16, 2008 11:56 pm
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| Sol was 6 years but they changed it quite a while ago to 4 years. Hope this helps ya SD. Lots of PA residents on the forum. So far I have counted 4. |
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sdchargers_63
Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498
107 Magic Points
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Subject: debt
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Wed Sep 17, 2008 2:17 pm
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| So....since the SOL is 4 years, does the debt STILL on your CR for 7 years, or does it come off in 4 years? All this SOL stuff can be confusing. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4493
8662 Magic Points
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Thu Sep 18, 2008 1:52 am
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Still on for 7 years. It will not fall off until then. The SOL is just how long a creditor has to legally sue you it has nothing to do with trhe fall off date.
So if you had a collection in jan 2000 it will not fall off until Jan 2007. Sometimes even 6 months after that. Actually most of the time according to my credit report and info I have gotten from here. So it would actually stay on until June 2007 |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Thu Sep 18, 2008 11:44 am
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Hi Chargers
Even if the Statute of Limitation is your state expires, the negative listing will stay in your credit report for 7 years. However, the impact of the negative listing on your credit score starts decreasing after the SOL is over. The SOL starts from the date you first missed your payment and from that date it continues till its expiry date. The SOL for open ended accounts in PA is six years and since credit card debt falls under open ended accounts, the SOL will be six years.
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Where there's a will, there's a way !! |
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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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Thu Sep 18, 2008 12:07 pm
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Statute of Limitation varies across states in US and it may range from 3 years to 15 years. Moreover, SOL also depends on the nature of the debt agreement. There are four types of debt agreement - oral contract, written contract, promissory notes and open ended account. Credit card debt falls under open ended account because these type of debts are revolving lines of credit with varying balances. However, in PA, for oral agreement the SOL is 4 years, for written agreement it is 6 years and for promissory notes it is 4 years.
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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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Thu Sep 18, 2008 11:39 pm
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Carol. what is a credit card debt considered? I believe they changed the SOL a few years ago. It is only four forPennsylvania Statute of Limitations
Contracts: 4 years, (used to be six).
Contracts under seal: 20 years.
Sale of goods under UCC: 4 years.
Negotiable instruments: 6 years (13 PA C.S.A. .ยง3118
a credit card now. If it is open-ended then I don't see your listing here. |
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Guest
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Mon Sep 22, 2008 2:32 am
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| You are exactly right fireyone, it used to be 6 and now it is 4. |
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