grad58 Posted December 31, 2007 Report Share Posted December 31, 2007 i have a question about the sol of debt of a credit card. if you move to another state and the sol's are lower than the previous state. what state do you go by for expiring. Link to comment Share on other sites More sharing options...
StressPot Posted December 31, 2007 Report Share Posted December 31, 2007 I'll take a crack at this - someone will let me know if I'm wrong.You open an account in one state then move to another. The SOL's of both states can technically be used depending on where the Lender or JDB chooses to sue you (IF they sue you).Because of cost and convienance a majority of suits are filed in the current state/county the Consumer lives in.The Lender/JDB also has the option of starting litigation in the state the account started. This tends to be more costly as they would also have to domesticate any judgement received to the state the Consumer now lives.if you move to another state and the sol's are lower than the previous state. what state do you go by for expiring.So as per my explination, either. Use the SoL of the state they sue you in.Did I make any errors in this explination? Let me know, thanks!StressPot Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted December 31, 2007 Report Share Posted December 31, 2007 Stress Pot did great!!Its the state you live in now.. they will sue you there.. it CAN happen where they can sue in a state where you used to live but I have had two laywers said its never happened as far as they know.. its just too complicated and expensive to do it this waywouldnt make sense to do that.. if you live in FL and you used to live in NV.. they can't expect you to go to NV and they cant sue you in FL using NV law, otherwise the judge would have to know all the laws for all the states.. bascially it makes NO sense.So where ever you live now the law applies.. KEEP IN MIND if you move back to your old state and the SOL is longer.. you could toll that (freeze it) so when you move back then can sue there.. but again rarely happensbut if you are leaving Ohio they have the LONGEST SOL in the world.. (okay the US) 15 years. if you move to lets say NC (which all of you seem to be doing, LOL) it is three years that is the SOL you go by. Link to comment Share on other sites More sharing options...
stefdr Posted January 1, 2008 Report Share Posted January 1, 2008 I used to live in Ohio. Will not even consider moving back until credit is totally repaired. Link to comment Share on other sites More sharing options...
grad58 Posted January 1, 2008 Author Report Share Posted January 1, 2008 Thanks again for the help Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted January 1, 2008 Report Share Posted January 1, 2008 I am from Ohio too although I left after college, didnt have credit issues then but I thank god I am not in that state anymore;.. they have some of the worst consumer laws in the country.. a 15 year SOL?? Convicts get less time then that. Link to comment Share on other sites More sharing options...
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