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Banks, SOL, and More CA Woes


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I have an old bank account that had some overdrafts, which was supposedly resolved, account was closed. Almost 3 years later, I get the 1st notice from the CA. I DV'd immediately, and nothing for nearly 60 days. They even reported to the CRA's and when I DV'd, removed the TL. Then I get a letter saying that they are obtaining the information I requested and will forward it to me when received.

So it looks like I may be having a battle on my hands with this CA. I decided to do some research on TN law to try to determine what the SOL would actually be. I came across this:

TCA § 47-4-111. Statute of limitations. —

An action to enforce an obligation, duty, or right arising under this chapter must be commenced within three (3) years after the cause of action accrues.

Now I may be grasping at straws here...and this may truly be the correct SOL. I just don't know. This is found under the Bank Deposits and Collections of the Tennessee Commercial Code.

Can someone out there with some legaleze help me out with this one? The date this account allegedly went deliquent was 6/04...so do I remain quiet as far as the CA is concerned and send them the statute sometime in July and tell them to roll in the maggot droppings?

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They even reported to the CRA's and when I DV'd, removed the TL. Then I get a letter saying that they are obtaining the information I requested and will forward it to me when received.

I think this CA is done. Of course, they still might validate after the fact but if they aren't reporting that's a good thing. Chances are though this happened around the same time and if it did, they couldn't validate so they removed.

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THIS IS FROM Y CHATS SITE

TENNESSEE

INTEREST RATE

Legal: 10%

Judgment: 10% (or contract rate) (varies with type of transaction)

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 3

Written Contract: 6

Domestic Judgment: 10

Foreign Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY)

Treble damages up to $500 + 10% interest & reasonable service charges, atty's fees, & court costs.

GENERAL GARNISHMENT EXEMPTIONS

See federal law. Add $2.50 per wk. for dependent child under 16.

COLLECTION AGENCY BOND & LICENSE

Bond: $15,000 1-4 employee $20,000 5-9 employee $25,000 10 or more License: Yes Fee: $600 - Original $350 - Renewal $25 - Each Solicitor

Exemption for out-of-state collectors:

Contact state licensing authority. Out-of-state agencies MAY be exempt if they

[1] maintain office in another state;

[2] resides in a state that provides reciprocity; and

[3] comply with provisions of licensing.

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Open Acct.: 3

Written Contract: 6

Open accounts in TN is six years, not 3, according to everything i have read. But with banking, there may be other laws involved, that could work to my benefit. I could bluff...because I am sure that the CA has no clue what the actual statute is...but I need to hold my bluff until July.

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I "borrowed" a link from another post in this Forum from GucciMark and revised it to fit my state, and I am still not finding the answer...

http://www.acollectionagency.com/statuteoflimitations/tennessee.php

According to this link, it confirms what was said earlier about open accounts being 3 years...I still cannot find this in my state's statutes ANYWHERE. The only thing I found was the 3 year on the bank issue, which I do not know if valid or not.

Is there anyone I could call to find this out for certain without having to pay an attorney? The only lawyer listed in my area by the naca website only handles class action suits. Would the AG's office or consumer affairs office of my state give me this information or just refer me to a lawyer? They don't seem very pro-active in regards to collection agencies.

Help, please?

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