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SC law for restarting the DOLA


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I have collections and charge offs that are definitiely out of the SOL in SC which is 3 years. However 5 years ago a couple of payments were made. The accounts were never caught up.

It is my understanding that in some states if you make payments on accounts that are delliquent but never reach a "current" status the DOLA will restart as well the the 7 year aging.

For South Carolina I have had no succes finding an answer to this question on the Web. Can anyone tell me what the law is for this situation in South Carolina or where to find the answer.

Thanks

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This is what you need:

Written Contract Not Under Seal;

Oral Contracts;

SECTION 15-3-530.

Within three years:

(1) an action upon a contract, obligation, or liability, express or implied, excepting those provided for in Section *(2)15-3-520

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

*(1)SECTION 15-3-120. Effect of new promises in writing or part payments.

No acknowledgment or promise shall be sufficient evidence of a new or continuing contract whereby to take the case out of the operation of this chapter unless it be contained in some writing signed by the party to be charged thereby. But payment of any part of principal or interest is equivalent to a promise in writing.

SECTION 15-3-130. Suits on causes saved from bar of statute by part payment or written acknowledgment.

All actions upon causes of action which would be barred by the statute of limitations but for part payment or a written acknowledgment shall be brought on the original cause of action and the part payment or written acknowledgment shall be evidence to prevent the bar of the statute of limitations.

So, any payment, even a partial one, can re-start the 3 year SOL in SC.

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