Jump to content

SOL- How to calculate-Sorry

Kathy Y

Recommended Posts

I apologize for this question, I have read through SO many posts on here that my eyes are crossing. I am trying to figure out how to calculate the SOL (I'm in Texas) I used a link from this forum and found that it's 4 years and this is it:

§ 16.004. FOUR-YEAR LIMITATIONS PERIOD. (a) A person

must bring suit on the following actions not later than four years

after the day the cause of action accrues:

(1) specific performance of a contract for the

conveyance of real property;

(2) penalty or damages on the penal clause of a bond to

convey real property;

(3) debt;

(4) fraud; or

(5) breach of fiduciary duty.

I think this is it, but what does 'after the day the cause of action accrues' mean?

I've found so many different answers: after the last payment, after the last charge, after the first time you became late and never got current... I don't know what to use and we're talking about a month or two difference and they're taking me to court, so it really matters which answer is correct.

I appreciate any help! :oops:

Link to comment
Share on other sites

Accrue means to grow or increase, which relates to when the debt went delinquent.

I say this as the norm when an account goes delinquent, the balance grows due to added interest and fees. I would say this is just their way of identifying the date of first delinquency to begin the count for the 4 year period.

Link to comment
Share on other sites

I went late in 6/03 and was never current again, but there were payments made after that. In the Tx law it says a payment doesn't make the contract new, it has to be in writing, so I thought that would mean 4 years from when I never got current again.

Now the credit report says it should stay on record until 7/2008 and the first late it shows is 30 days as of 1/2001. (I thought that was because they only kept data from so far back.) What's interesting to me is that I disputed it with Experian and they deleted it. So if that means if Wells Fargo can't prove it, then the lawyers can't either, correct?


Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.