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Bank Mergers & SOL


darsar
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I'm sitting down to figure out exactly what I'm up against. I did a search for this info, so if it's out there and I missed it, I apologize.

I have a CO from MBNA (now reporting as Chase). The DOFD I received was 5/03.

So if I go by Colorado SOL, it expired 11/2006, and the Delaware SOL (where MBNA is located) will expire 11/2007.

However, since it's now reporting as Chase, do I go by the Ohio SOL, which would make it 11/2018?

Or since MBNA is still in existence, is Chase considered a JDB?

(I do realize that action would be brought in Wisconsin, but they don't allow action on claims already expired in the originating location - in this case, it would be Colorado, but I'm curious about the SOL in the creditor's state as well.)

Thanks in advance!

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Wow...you don't make it easy, do you.

Technically, if the account was in default when Chase bought it, then yes, they're a JDB.

In order to get a judgement against you in WI, they'd have to sue in WI. If they sue somewhere else, and win, then they'd have to domesticate the judgement to WI. So, you're pretty safe in assuming the WI SOL applies...

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Thanks, guys. Either I had a brain fart and am making this MUCH more difficult than it should be, or I misplaced my Super-Secret Legalese Decoder Ring and am forced to rely upon my powers as a mere mortal.

Either way, the input is appreciated. :-)

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try not to overthink it.. trust me you are not dealing with rocket science here.. although the Legal parts can get confusing.. spend some time reading the info here.. you will learn alot!

What if MBNA sold it to Bank of Tokyo? :hmmmmm:

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I'd have to take a crash language course before representing myself?

Seriously, I understand the reasoning - just wanted to double-check since there are three states involved instead of two.

Incidentally, after figuring this out (and finding the WI "foreign statute of limitations" info), last night was the first night in a few months that I actually slept straight through - hubby was getting worried about me. :-)

Thanks for the info, guys. Been lurking for a few months, but haven't really had anything important to contribute yet. I ordered Kristy's book yesterday, and can't wait to read it.

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My apologies - I have two accounts that were merged or bought out. I must have gotten them confused.

So First USA is now Chase, and MBNA is now BOA.

*Whew*

I'm building a spreadsheet to track all of this stuff - it's too much to keep at the (pointy) top of my head.

Thanks, Lady!

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