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swsabean



Joined: 12 Jul 2008
swsabean's page
Posts: 11



586 Magic Points
Subject: SOL question
 
 Posted on Sat Jul 12, 2008 12:11 pm  
Does SOL on debt refer to the state in which the debt was incurred or the state in which I now reside?
CMBV22

CMBV22

Joined: 08 May 2008
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Posts: 364



4810 Magic Points
 
 Posted on Sun Jul 13, 2008 1:24 am  
I believe it refers to where it was incurred. Since the OC would have taken your current states laws into consideration when drafting contracts.
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anthony

anthony

Joined: 31 Jul 2006
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13571 Magic Points
 
 Posted on Mon Jul 14, 2008 7:19 am  
Hi swsabean
Statute of Limitation on your debt may relate to both the states where you have signed the loan and where you are residing right now. If the states differ, then it is up to the creditor to chose in which state he will sue you. Naturally, the creditor will sue the debtor in the state where the SOL is longer.
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goodnatured



Joined: 03 Nov 2007
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10 Magic Points
 
 Posted on Tue Jul 15, 2008 3:02 am  
I don't think so, I think it is where you lived at the time you applied for the credit in the first place.
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