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Statute of Limitations

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Joined: 18 Feb 2010
credit_sucks's page
Posts: 1

33 Magic Points

Subject: Statute of Limitations
Posted on Thu Feb 18, 2010 7:49 am  

i have a question? I'm in the military and incurred a debt back in 2005 that i havent paid on forever. The OC says 2006 and sold it to Pallisades who says date opened 2006. They are also running as a 30, 60, 90, and nnow over 120 late evey month. Are they allowed to do that or can they only reort collection account or charge off? Now the real question. I'm originally from Michigan but incurred the debt while being stationed in North Carolina. The SOL for NC is 3yrs for any debt and MI is 6yrs. What SOL would my debt and I fall under? Your help and advice will surely not be taken for granted and much obliged.

Semper Fi,


Joined: 08 Feb 2010
Aaron's page
Posts: 2632

48565 Magic Points

Subject: statute of limitations
Posted on Thu Feb 18, 2010 1:01 pm  

Hi Credit,

You had incurred the debt in North Carolina, therefore you will have to consider statute of limitations (SOL) of North Carolina itself.
Keep in touch Smile

Posted on Thu Feb 18, 2010 3:51 pm  

Even though I am a resident of Michigan and that's where my home of record is?


Joined: 08 Feb 2010
Aaron's page
Posts: 2632

48565 Magic Points

Subject: Reply
Posted on Fri Feb 19, 2010 7:35 am  


Even if you live in Michigan, but the debt was incurred in North Carolina, the state laws of North Carolina will apply. Therefore, the statute of limitations (SOL) of North Carolina should be considered.

As much as I understand from your question, the SOL for your debt has expired. However, the charge off is reported, along with the delinquency details.

Hope this helps.
Keep in touch Smile

Joined: 03 Nov 2007
goodnatured's page
Posts: 3931

490 Magic Points

Posted on Mon Feb 22, 2010 11:32 am  

What aaron is stating is exactly right, the debt stays with the resident state of the time of opening. Hope you can get this all straightened out soon. goodluck

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