SOL question

Submitted by swsabean on Sat, 07/12/2008 - 12:11
Forums

Does SOL on debt refer to the state in which the debt was incurred or the state in which I now reside?

I believe it refers to where it was incurred. Since the OC would have taken your current states laws into consideration when drafting contracts.

Sun, 07/13/2008 - 01:24 Permalink

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.

Mon, 07/14/2008 - 07:19 Permalink

I don't think so, I think it is where you lived at the time you applied for the credit in the first place.

Tue, 07/15/2008 - 03:02 Permalink