SOL question

[goodgirlBadCredit]

I'm a newbie, so this might be a stupid question but, Does the SOL date begin from the date reported, the date reported negatively, date opened or the date of last activity:?:

[zfire]

There have been several posts on this subject.

I would advise you to read the sticky's.

It is my understanding that it is the date of last activity though.

[CarolinaBlueEyes]

depends on where you live.. for example its the DOLA however if you made a payment after that in MOST states that can restart your SOL.. if you can provide a few more details that would be great.

in SOME states a payment after its in default will not affect your SOL

[bigman]

I have researched this extensively, and there are still many questions. From what I have found it is either the DOLA (ie last payment made on the account) or the Date of breach (which is usually the last payment you made on the account). As I understand it the difference is a small one. for example lets say you ran in to trouble on a CC and missed payments in October, November and December of 2001, but you took advantage of credit card protection and let's say JCpenney insurance paid Jan and Feb of 2002. If it is the DOLA the SOL starts in Feb of 2002. If it is the Date of breach the SOL would start in October of 2001. I am still a bit unclear and so hopefully, if I am off base one of the old timers will add some clarity. I hope this helps get you on the right track

[ICDeadPeople]

I'm a newbie too. I hope this helps. It's for California.

The following exerpts from "California Debt Collection Practices" may apply

§3.65 4. Account Stated and Book Accounts

The statute of limitations for common counts for accounts stated and book accounts begins to run on the date of the last entry in the account. Gardner v Rutherford (1943) 57 CA2d 874, 882, 136 P2d 48; Foothill Ditch Co. v Wallace Ranch Water Co. (1938) 25 CA2d 555, 565, 78 P2d 215. When an account stated consists of one item, the statute begins to run on the date of that item; when the account stated consists of more than one item, the statute does not begin to run until the date of the last item. CCP §337(2). See Rosati v Heimann (1954) 126 CA2d 51, 55, 271 P2d 953; Hallford v Baird (1938) 27 CA2d 384, 80 P2d 1040. A debtor's payment on the account constitutes an entry in the account and therefore it restarts the clock on the limitations period. Furlow Pressed Brick Co. v Balboa Land & Water Co. (1921) 186 C 754, 200 P 625. Not every payment constitutes an entry in the account. If the creditor terminates the extension of credit on account, further partial payments toward the settled debt do not constitute an entry in the account and do not restart the clock on the statute of limitations period. R.N.C., Inc. v Tsegeletos (1991) 231 CA3d 967, 283 CR 48. Payment of the balance due on an account does not stop the running of the statute of limitations on a separate account between the same debtor and creditor. Davidson v Tilden (1978) 86 CA3d 283, 150 CR 194.

See §§3.85, 3.89 for discussion of book accounts and accounts stated.

I'm a newbie, so this might be a stupid question but, Does the SOL date begin from the date reported, the date reported negatively, date opened or the date of last activity:?:

[IHateCAs]

Since we don't know what specific SOL you're talking about, we can't answer your question.

[bigman]

Since we don't know what specific SOL you're talking about, we can't answer your question.

I Hate CAs:

I would like to have you expound on that statement. For SOL is it not either DOLA or Date of Breach? I have not encountered any other options, or perhaps i just missed them.

What other options are you aware of?

could you share some examples?