Maryland SOL

[shllby1]

I read that SOL in Md is 3 years. Well I have quite a few things on my report that I need to pay or take care of before a mortgage loan and they are WELL over 3 years and they are still trying to collect. What should I do?

[thomassl]

Here is the information on the SOL for Maryland:

Maryland Statutes of Limitation

Civil action: 3 years from the date it accrues, unless:

Breach of contract under any sale of goods and services under the UCC: 4 years after the cause of action, even if the aggrieved party is unaware of the breach.

Promissory notes or instruments under seal, bonds, judgments, recognizance, contracts under seal, or other specialties: 12 years.

Financing statement: 12 years, unless a continuation statement is filed by a secured party six (6) months prior to end of twelve (12) year period. (Maryland, Commercial Law article Sec. 2-725; Courts & Judicial Proceedings Article Sec. 5-101-02, 9-403).

NOTE: The 3 year statute of limitations begins again if creditors can document that a debtor has reaffirmed a debt by a good faith basis by a written agreement, orally, or by payment.

Does any of your debt fall under any of these categories?

[shllby1]

Yes just about all of them are over a 3 year period, some are as old as 2004. I need to resolve them to buy a home so should I send DV letters? Should I negotiate 50% of what they say since they are old?

[shllby1]

bump:)