SOL Question

[nolo]

I asked this question on another thread but I thought I'd go ahead and ask again here. This is important to me and I'm confused. Any help would be appreciated.

In questions on this board involving the starting time of the SOL on delinquent debts, I'm seeing a lot of questions from posters here like: "When was the date of last activity?" or "When was your last payment?"

So my question is this:

Do partial payments, made without a formal settlement agreement that do not bring the account current, re-start the SOL clock or not?

If not, then it IS possible for the SOL clock to have started some time BEFORE the date of last activity. (the last activity being the partial payment) Is this correct?

I hope I've stated my questions clearly enough. I find this whole SOL thing to be very confusing.

[Anonymous]

It is all going to depend on what state you are in and the statutes for that state. The laws can vary widely from state to state. Try this link to start search for SOL info in your state.

http://www.lawdog.com/state/laws.htm

[nolo]

kenrb01,

I'm in Oregon.

Thanks for the link. I looked everywhere but I didn't find the answer. Thanks for responding though.

[Anonymous]

12.240 Effect of payment after obligation becomes due. Whenever any payment of principal or interest is made after it has become due, upon an existing contract, whether it is a bill of exchange, promissory note, bond, or other evidence of indebtedness, the limitation shall commence from the time the last payment was made

Complete Statute of Limitations

http://www.leg.state.or.us/ors/012.html

List of all statutes

http://www.lawdog.com/states/or/sta9.htm

Click on State Statutes

[Edit by kenrb01 on Saturday, May 3, 2003 @ 05:59 PM]

[nolo]

kenrb01,

Thank you very much. That is exactly what I needed. I really appreciate your help.