Hearing On Friday (First USA Bank) Past Statue Of Limitations

[CSN2001]

I have a collection that is originally for Bank One. Since then First USA Bank has bought them, so i owe them the money. Then debit was sold to the debit collectors commonwealth financial. Commonwealth financial is taking me to court for the debit. I stopped paying the debit in April of 2004, so April of 2008 the statue of limitations runs out. Well They filed the papers in March and served them to me for a court date in April. So they say since i was served in March even though the court date is in April they made it under the statue of limitations.

Is this true or can something be done?

I also offered them a settlement of $400 on a debit that was inflated from $2000 to like $4100.

[Focus2069]

unfortuneatly, once a suit is filed, the SOL is tolled.

[Amerikaner83]

in other words, since they FILED before the SOL expired, it is legal.

[TTigggers]

Looks like you will have to work out a settlement with them.

[bubbaboo]

My experience with FirstUSA is that if it has been sold to a collection agency, then the CA does not have the paperwork to back up their claim. If the collection agency is only collecting for the creditor, then the back up paper exists. What I am saying is that if you are dealing with a CA who bought the debt, they will probalby show up for court with a funky affidavit saying that you owe the debt. If that is signed by a CA employee, it is hearsay and not admissable. There is a lot of information here on that issue.

If you are not able to get a deal, you may consider fighting it. Also, it is my recollection that FirstUSA was sold to Bankone, which was then sold to Chase.

[LadynRed]

Since then First USA Bank has bought them, so i owe them the money

Actually, you don't owe FirstUSA anything. FirstUSA was bought out by CHASE a few years ago !

If you look at case law, the SOL in FL on anything but a STORE credit card is FIVE years, not 4.