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I am confused, why....


LRM216
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I have a charge off on all three reports, but each one has a different dola. One says January 2003, one says December 2003 and one says September 2002 (which would put me sol in a month). Why does this happen, what do I do about it, and what can I really use as the dola for this account. After 3 years of various collection agencies getting nowhere as they could not validate, it appears it's back with the oc now. Any advice????? Thanks.

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That is VERY misleading. your actual SOL is when you either stopped on the account or your last payment for example..

I have DOLA on an account of Nov 2002.. but if I continued to pay on it until Sept of 2003 that is when my SOL would start not the DOLA.. that is incorrect it is the date of your last payment (whichever date is most current which is usually payment date) and if you have made any partial payments that also counts.. or left the state.. which could create tolling

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Thank you, but may I run this by you just so that I am sure of what you are saying:

In other words, if I made my last payment on June, 2002 and let it sit for a year and then resumed making payments through Ameridebt in June, 2003 (the robbers that they were) for 5 months and then stopped making those payments and never paid another cent - then my sol would start from June 2003 and not June 2002???? Am I correct or wrong - this whole thing confuses me so!

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Guest mikey
Thank you, but may I run this by you just so that I am sure of what you are saying:

In other words, if I made my last payment on June, 2002 and let it sit for a year and then resumed making payments through Ameridebt in June, 2003 (the robbers that they were) for 5 months and then stopped making those payments and never paid another cent - then my sol would start from June 2003 and not June 2002???? Am I correct or wrong - this whole thing confuses me so!

June 2003

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mikey is correct.. its from the last payment.. even if you had not paid for a year... think of it this way.. the last time ANYTHING happened on the acccount.. activity (a charge) payment... whatever it was is when your SOL starts

OH and I know how you feel... I too bought myself an additional year by signing up with one of these companies.. so I feel your pain

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...I made my last payment on June, 2002 and let it sit for a year and then resumed making payments through Ameridebt in June, 2003 (the robbers that they were) for 5 months and then stopped making those payments and never paid another cent...

Just wondering, Mikey, but...

If she began making payments in June of 2003 and did so for another 5 months--wouldn't the new SOL date begin when she stopped making this "new series" of payments? If so, it seems the SOL would be reset to around October/November as this would have been the "last activity" on the account?

...or am I way off base?

Ray

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E-

I was commenting on the SOL for legal action. I assumed this must be an open account (which in GA the SOL is 4 years) due to her assumption that the SOL would expire in September of this year if the September 2002 date was correct.

You're right though, it is a bit ambiguous.

Ray

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Guest mikey
Just wondering, Mikey, but...

If she began making payments in June of 2003 and did so for another 5 months--wouldn't the new SOL date begin when she stopped making this "new series" of payments? If so, it seems the SOL would be reset to around October/November as this would have been the "last activity" on the account?

...or am I way off base?

Ray

yes, i read it wrong but it would start with the month you stopped making any more payments...in this case, 6 months after june 2003....nov 2003

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Sorry everyone - didn't mean to confuse anyone. Yes, I was asking, as Ray assumed, for legal reasons. Hoping that those few payments didn't reset the legal sol since they never brought the account up to current status. Guess it did reset it so I still have another year to go until I can be legally safe "sol" wise.

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Guest E. Normis Debtor

Not necessarily. You would need to research your state statutes and case precedent in your jurisdiction to be certain.

Limitation periods begin to run when a cause of action accrues. Typically that occurs when the agreement is breached.

A creditor attempting to reset that limitations period would need to show a new promise to pay began on the date a subsequent payment was made. Absent that, the limitations period began upon the original breach.

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Sorry all, didn't mean to be ambiguous - I was asking about what the sol really is for legal reasons. It it remained at 9/02, then in a few weeks I would have been out of sol. It it now becomes 1/03 - I have some time remaining.

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Guest E. Normis Debtor

What was obligation for? GA statutes would seem to indicate the 4 year SOL only applies to oral or implied contracts.

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It was a charge with Cross Country Bank opened over the internet about 10 8 years ago. Not one of the 3 collection agencies that have had this could ever validate - one sent me their computer form (what they purchased or were given by CCBank) and all it had on it was my name, address and the amount with all the late and over limit fees. That's it. Then they sent me a very nice letter actually asking me to call them to set up payments and that they would work it all out with me. My last correspondence (over 2 1/2 years ago) with them was to tell them validate with statements and/or a contract with my signature and I might consider it, until then I would do nothing. Never heard back from them again either. Now I get a letter to my "estate" giving it CC Bank's condolences and wanting to know the name of the executor of my estate!!! I have ignored it as I am still alive and can't imagine where the OC comes off thinking I'm dead after hearing nothing from them or a collection agency for a long while. I figure CC Bank is just fishing - maybe they saw some recent activity or something on my cra reports. Figured I'd just sit and wait to see what they do next. I just don't want to be sued. Hence, the reason for my eagerness to hear my sol was still ;9/02 and not 1/03. Thanks.

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Guest E. Normis Debtor

Your payments did not restart the SOL for legal action.

Here is the applicable Georgia statute

9-3-110.

A new promise, in order to renew a right of action already barred or to constitute a point from which the limitation shall commence running on a right of action not yet barred, shall be in writing, either in the party´s own handwriting or subscribed by him or someone authorized by him.

Their right of action (when the SOL began to run), accrued at breach which would be your first missed payment with the OC.

As indicated by statute, you would have had to put in writing a new promise to pay in order to reset the SOL.

BTW, a credit report would not constitute competent evidence of your last payment. You would need bank statements or an affidavit from the bank.

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Guest mikey

never quite knew how a bank statement could be proof of last payment. you could always just come up with an older one and say that was the last one. i would think the last statement from the credit card would be proof.

a credit report would only be used as backup to anything you offered. btw, why isnt a cr viewed the same as a bank statement or charge statement. they are all just records offered by other parties....

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Thank you E. Normis for the great info and help - it is much appreciated. I have not received any statements from Cross Country in over 2 plus years. Even when Ameridebt made those three payments for me, all I had was a listing of payments made by them which you had to go to their website to pull up and of course, they are out of business and have been for a while so I have no access to their payments, other than the debits removed from my bank account. The last two payments made to Cross Country by me after they dropped me because Ameridebt never paid them would also be shown on just my bank statements. Even then, they never sent any further statements. It was truly a real rinky dink operation, and that's part of why I'm so surprised to get the condolance letter from them to my estate!!!!

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