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  1. I just finished reading Gemini Capital Group v. New (Iowa Court of Appeals, 2011} and the only issue cleared up for me and it came down to if the account was still open or closed when 3rd party payments started up.. There was no contract between us and creditor. There was no contract between us and the 3rd party paying creditor.. Account was closed on 2/27/2015 and charged off on 2/28/2015. Case states "With respect to continuous, open accounts, "the cause of action shall be deemed to have accrued on the date of the last item therein, as proved on the trial." Id. ยง 614.5". First payment which was made by 3rd party started 4/30/2015. Last payment on open account was 6/25/2014 and delinquent date was established as 7/14/2014 according to statements sent via DV request. Hoping nothing happens between now and 7/15/2019. They sent me the notice of Right to cure Nov. 2018 and there has been no conversation on phone or by mail since February 2019. Gurstel is the Law firm for the OC and they are at 80% settlement. Will the state code figure last payment date of 6/25/2014 as the date it will fall out of SOL, or the date of delinquency of 7/14/2014? Hopefully Judge will agree. Thanks a million.
  2. There it is. It was in front of me the whole time. I've known about Gemini Capital Group v. New (Iowa Court of Appeals, 2011} for 5 years and didn't think it would be as specific as to the situation I was looking for. I want to thank you BV80 and let you know that I wasn't being lazy. In fact, I'll bet I seriously put in 30 hours of research just for that subject. That is one of the laws in Iowa that helps bring relief to debt cases looking not to get bulldozed in court. Thank you.
  3. Is there any Iowa Case Law showing payment BEFROE SOL runs out restarts SOL clock? I realize this is an old post.
  4. Statute of Limitations has 2 different meanings in the world of credit. In regards to your credit found in your credit bureaus, an account that is negative in any way will stay on your credit report for 7 and 1/2 years. Simply settling the account doesn't restart the Statute of Limitations clock for the credit bureau trade line. . When you are talking about liability of the credit trade line itself, the Statute of Limitations goes by state code. For example, credit cards are known as open accounts, and South Caroline has a 3 year Statute of Limitations which starts after last payment before account went negative. After that time period they may not sue you but the creditor may still collect. If they sue you out of the Statute of Limitations window then they can be sued. If you pay it for less that what is owed they will send you an IRS 1099-C. This is hard to get around for an original credit like Target. This would be the time for you before any payment is made to try and negotiate a better credit bureau status for that trade line by asking for them to note it as paid as agreed. Otherwise they will show it as settled or settled for less than owed which are negative comments showing negative account information. It never hurts to ask and they have heard it all before. By the way, if you are able to make it a positive account by getting them to show paid as agreed and if payment history notations are cleared for the months you didn't pay, your credit trade line for the credit bureau will stay for a 10 year period showing as a positive account helping your credit. Some incentive for striking a good deal with your settlement monies. Good Luck!
  5. May have done self-inflicted shot into Iowa 5 year SOL. Last payment where delinquency started was June 26, 2014. Account was closed and charged off on 2/27/2015. Went with Debt Settlement Co. National Debt Relief to work out payment schedule for 4 defaulted accounts and who made 6 payments to Discover totaling $3,325.00.starting April 30, 2015 through last payment being September 30, 2015. I believe in Iowa you have to have a written and wet ink signed contract for payments on a closed account to restart SOL. However, the payments from National Debt Relief may have re-started SOL over to September 30, 2015 which was last payment even though it came from a 3rd party, not defendant. In Iowa, you have to have a written agreement with a wet signature to agree to restart payments, but I think the act of making payments again and of itself may restart the SOL clock. The last statement from Discover that they had in the packet I requested in January was March, 2016. Has anyone gone through this and what was the outcome?
  6. Count is 34 days until this is out of the 5 year SOL. Got JAMS paperwork completed and it just needs to be dated and mailed when time seems right. Have violations with the IDCPA and Iowa Consumer Credit Code for the attorney Gurstel Law Firm and Discover Financial. ICCC allows for suit against both OC and collectors. No itemization of late payments of charges to be included along with right to cure as required by Iowa Code 537.5111(1). Probably won't reveal SOL on initial Arb demand but can revise demand up to the picking of the arbitrator, which is a choice among 5 so should have an idea about what time they will pick out arbitrator and then I can add SOL to the updated Arb demand after SOL plays out and before they counter sue. Still looking to do the 3 year SOL DE route, but it would be a stronger stance if it got it to the 5 year SOL as allowed by Iowa. Looking to call Discover attorney a couple of days before sending in Arb Demand for 1 last chance of a settlement. They were at 80% when last spoken to in February. Had settled a personal loan with them the month before for 30% but that was through a debt collector (RADIUS Global Solutions LLC) working on their behalf, not a law firm. Since this is the first time in Arb not sure it will go smoothly as noted here since it is Discover. Is this wishful thinking or is there an outside chance it would work?
  7. Was the Discover for 40% settled with a collector or a law firm. I have seen a pattern where debt is settled from 30 - 40% with a collector for Discover and the Law Firm's such as Gurstel are 40 - 50%.
  8. Thank you very much. JAMS language is ambiguous in rules section.. I counted 52 days until this is out of the 5 year SOL. If Arbitration is initiated next week before a petition is filed in court, will that keep Discover in the Arbitration process until that SOL passes? If Arbitration is done too soon it would backfire if Arbitration was cancelled for Discover non-participation before the 5 year SOL date and then they turned around and filed petition in small claims court. Since this is the first time initiating arbitration not sure of the timeline involved with the process. Looking to go the 3 year SOL DE route, but it would be a stronger stance if it got it to the 5 year SOL as allowed by state statute.
  9. Need to check (ICCC) Iowa Consumer Credit Code and the IDCPA Iowa Debt Collections Practices Act to see if a violation that could be included in arbitration, while arbitrator decision regarding SOL for DE is considered? I know that sometimes under those authorities violations may be applied to both OC and debt collectors, including law firms. (Although suing a law firm would have to be a separate case). One advantage I see with AAA over JAMS was the reallocation of fees and expenses if a debtor loses.
  10. Received Right to Cure November 14th, 2018 from Gurstel Law Firm for their client Discover. They have until July 9th to file a petition for the 5 year SOL in Iowa. We feel that since Delaware is their choice of law state they would have a little better chance of getting Delaware's 3 year SOL through card member agreement governing body through an arbitrator. The amount they are going to sue for is under $6,500.00 which is the threshold for being considered small claims court. The Discover Card member agreement states that Discover doesn't have to choose arbitration in small claims court. So it's an easy decision to go forward with initiating AAA Arbitration now before they file in small claims. That way a MTC Arbitration can be filed n answer once Discover through Gurstel Law Firm files along with proof of initiating arbitration. They will pay for the fees if no monies are available if asked in writing according to card member agreement. Knowing how aggressive Discover is an OC, a settlement for a smaller amount is the end goal. They are at 80% right now, even though they know there are no assets at this time to attach to and no wages to garnish. I understand they seek judgments for possible future defendant enrichment. Questions: Are there any problems with doing the above this way? Can that request that Discover pay the fee be mailed with Discover's copy of the arbitration agreement to Gurstel Law Firm?