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SOL

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It's been over 4 year since a charge off on credit cards. But I have been making payment through CCMS. Can I use SOL defense? Opened account in Utah.

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I dont believe you can use the SOL I read on another web site the SOL starts from the date of last activity so if your making payments on the acct the date of last activity would be the last time you paid them even if it was only 5 bucks.The 4 years starts when you stop paying. It may not even be 4 years it depends on the state the acct was opened & where you currently live.Try "SOL on collection accts" type that into your search engine I forget the web site but thats how I found it. It had a lot of good info, but spell out SOL.

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However, does SOL defense hold up if I been paying to CCMS and not OC? CCMS pays OC not me.

or does SOL completely fall apart. If all it took was a small payment by anyone. OC could keep the account active by posting payments themselve. Call it charity payment. I could argue that I'm not acknowledging the debt by paying a third party.aWhat's the burden of proof? I only thing I can think of is an agreement between me and CCMS that could be acknowlegdment of the debt.

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NO!!! Paying thru credit counseling does NOT reset the SOL !!!!

WhyChat has explained this repeatedly on cardreport.com and may have even done the same on creditboards.com.

I can't find the thread that I know I saw recently, but you could always visit either of those sites and ask the question again.

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If anybody finds anymore information, please point me in the right direction. I looking for something that will hold up in court.

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It's been over 4 year since a charge off on credit cards. But I have been making payment through CCMS. Can I use SOL defense? Opened account in Utah.

I believe the...

The statute of limitations in Utah is 6 yrs on written contracts, so you have to keep paying until then, otherwise they can take you court and get a judgement!!!

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Here is an excellent source of SOL information from WhyChat:

http://community-2.webtv.net/Y-Chat/WhyChatsCredit/

Then, you need to check your state statutes on contract changes (also courtesy of WhyChat):

http://community-2.webtv.net/YChallenge/storage/page3.html

The one for Utah is as follows: U.C.A. 1953 ยง25-5-4(6) (Supp. 1995).

Often, credit counseling websites share the same misinformation, so you need to be pro-active and seek the information directly to the source (i.e. your state laws).

For my case, I also need to find more info on MD SOL. I spent hours last night looking at Maryland Courts and Judicial Proceedings, because some website says that the 3 year statute of limitations for open accounts in Maryland can be restarted if a payment is made. Well, after going my state statutes for hours, I found that this is incorrect information. The statute says if a payment is made towards the principal or interest of a specialty account (contract under seal etc), then the limitations can have a "suspension of time" of 3 years after the payment was made. Now, I personally believe that payment to a CA does not constitute "payment towards principal or interests" of the original loan agreement. Therefore, it would seem that, in Maryland, this "suspension of time" applies only for (1) specialty accounts, and (2) if payment was made directly to the OC.

Additionally, under the Maryland Statute of Frauds, it is required that all agreements be in writing and signed by me. So, I need to actually sign an agreement for a new arrangement for the SOL to get restarted. Payment to a CA alone is not sufficient.

Anyway, I just wanted to give you some examples. WhyChat's website is the place you'd want to start with. Then, to get the actual text on the statutes, go to your state laws. That should give you your needed ammo in court.

Good luck!!

-----------------

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The above was my posting, BTW. Apparently, I forgot to log in prior to my post...

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