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Entries Tagged as 'SOL'

Collection Agency Offering Me Settlement – Should I Take It?

May 3rd, 2011 · 6 Comments · Debt Settlement

Q. I had a Bank of America credit card with a $15,000 balance. It was closed consumer’s decision. It was purchased by a collection agency. I’ve been paying it off for a few years, I’m down to $4000. They offered me a settlement of $2000 which I can afford. How will this affect my credit [...]

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Statute of Limitations on Debt When You Move

July 27th, 2009 · 2 Comments · Legal Stuff

The statute of limitations (SOL) on debt is an important weapon in your arsenal against collection firms who are trying to sue you for a debt. The simplistic definition of SOL is this: the amount of time from date of last activity that a person or company has to sue you. Each state has its [...]

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