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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 w
  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
  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 S
  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 hav
  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 proc
  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.