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Has anyone had the SOL pass on a large debt?

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I have been contacted by a CA over an alleged credit card debt of $15,000.00 + this is now the third CA that has contacted me over this alleged debt. I requested validation and received a generic reply listing the date they purchased the debt, the OC's name  Etc. This will be past the SOL in just under a year. At this point should I just wait it out and ignore any contact by the CA in hopes that the SOL will pass before a suit is filed. Based on the amount I am assumiming that the CA will file suit, but was wondering if anyone out there with a similar situation has had the SOL pass and not be sued.

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There's no way of knowing if an OC/CA/JDB will sue or not.   I had a cc debt close to the amount you named but neither the OC or the JDB sued, and the debt is now outside the SOL.  But, the SOL in my state is 3 years.  In your state, I believe it's 4 years.

 

Does the OC (original creditor) still own the debt, or is now owned by a JDB (junk debt buyer)?  If your not sure, look at the OC's entry on your credit report.  If the OC is reporting, see if their entry indicates that the account has been sold or transferred.  "Sold" or "transferred" shows that the OC no longer owns it.  In that case, you're dealing with a JDB. 

 

Start researching on this site.  Read every post by Calawyer, Seadragon, and other CA posters.  You'll find a wealth of information.

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This has been sold as the OC is reporting as a charge -off with a zero balance. Since the CA has sent what they believe to be proper validation I can assume that they will start calling me again. Should I just ignore the calls or should I ask them to cease communications with me?

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Based on the amount I am assuming that the CA will file suit, but was wondering if anyone out there with a similar situation has had the SOL pass and not be sued.

 

Agreed, but I believe they will file due to the timing of the SOL, regardless of the amount.

 

Remember, filing a suit beyond the SOL is the biggest, strongest, slam dunk Affirmative Defense there is is.  They have no choice but to file the suit, just to avoid it.

 

Based on your brief post, the Alleged Debt is over 3 years old, you have been contacted by 3 CA's and you mention the debt was purchased without mentioning when the JDB entered the picture.

 

In other words, what is the timeline of this 3+ year debt?  Was CA #1 a CA of the OC? were the first 2 CA's for the OC, and the 3rd for the JDB?

 

Seems to me that the best case would be if this is the 3rd JDB to contact you as their records would be less complete and more attackable than the first.

 

IMHO, it would be a rare stroke of luck if an alleged debt went 4 years without a suit being filed.

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This has been sold as the OC is reporting as a charge -off with a zero balance. Since the CA has sent what they believe to be proper validation I can assume that they will start calling me again. Should I just ignore the calls or should I ask them to cease communications with me?

 

Send a response to their validtion sayiing it is insuffient, you require verification, no contact by phone and the dispute remains.

 

You should be getting your ducks in a row for violations in preparations for a counter-claim.  Do you have a copy of the Cardmember agreement for the year you opened the account for the possible Arbitration route.

 

Regarding the C&D, personally, i have never used it.  I'm not sure what to suggest you do.  On one hand, it seems that refusing even written communication can be a sky-written notice to "sue me now."  On the other hand, maybe you can string this out til the SOL.

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This has been sold as the OC is reporting as a charge -off with a zero balance.

 

A charge-off doesn't mean the debt has been sold.  However, a zero balance DOES indicate that fact.  If it were me, I'd contact the OC just to ask if they still own the debt or if they sold it.  That's the easiest way to find out.

 

Who is the CA/JDB?

 

Since the CA has sent what they believe to be proper validation I can assume that they will start calling me again.

 

Was the validation merely a typed sentence from the CA stating the amount and the OC?  Did they include any type of documentation?

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I have confirmed that this was sold by the OC in 2009.

 

 The validation I received was an exact wording of which I have seen from many other posters on this site who are in alleged collections with this CA. Basically a form letter thanking me for my request. it goes on to state the date and time this was purchased and that the previous creditor informed them the the account was associated with my name and social security number.

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Some courts have ruled that validation should include more than a written statement from a CA that simply repeats the amount owed.  In other words, they have to provide some kind of documentation such as a credit card statement or a summary of charges.

 

It could depend upon how CA and the 9th Circuit have ruled regarding this issue.  There's a good possibility that the JDB didn't provide sufficient validation.  But we have to make sure before you send a letter disputing that alleged validation.

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If the JDB believes that they have properly validated  and starts up collection activty could this possibly be potential violation on their part if it turns out the the original validation was not proper?

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I would in prudently preparing to fight this gather all the info for the debt as well as looking at the terms of the card agreement if the agreement states a choice of law provision of Delaware then the choice of law SOL would be 3 years and it would be possibly Sol. That is determined from 30 days from the last payment also known as date of first delinquency(DOFD). also if there is an arbitration provision it will help out.

 

For a debt this size they may or may not. We have seen them dismiss claims of greater debts 25k-45k but it will be a far gone conclusion that they will sue within 6 months. So early preparation is the key.

 

If they file a complaint, the day you get it send a BoP, then after 10 days +5 for mailing and I am sure some people are going to say don't file the motion to compel on shortened notice. Then demurrer the complaint for the reasons we have here on the board. That way you are going to come out swinging.

 

Look up Calawyers excellent and world renown Bill of Particulars, and we have a demurrer posted on here. There are other things but getting your ducks in a row and hitting them out of the gate will go along way.

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I've had two debts for more than thirty thousand plus each, go over the SOL. Thankfully, they are both more than a year past that SOL. On one, I've had a couple of JDB's pop up trying to cause problems, but, as soon as I see them on my CR I send a DV telling them that I am aware of their presence and that for one the debt is past SOL and that I am collection proof. Some call it judgment proof, but, in reality, they can always get a judgment. They can't always collect on it. I also remind them that I will fight this and cost them a lot more than they paid for the debt as well as my counter suit for FDCPA attempt to sue on a past SOL.

 

If I want to, I already have a couple of FDCPA violations on them, but waiting to see what else happens before I file. To each his own....lol.

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Hi, welcome.  I bailed on all of my credit cards in May of 2008 (total amount about $98k; I was sued & I cash advanced almost the entire lawsuit - lawyer fees & settlement costs - Judge away, shi* happens!) I also had a foreclosure, so I didn't figure it was in my interest to keep paying credit card accounts when my house had been foreclosed on (it wreaks your credit worse than a BK). 

 

Anyway, I was sued for only one credit card account - by a JDB who had bought it from Citibank.  I won my lawsuit at the beginning of this year using this awesome website & with the help of several of the people that already posted on your question.

 

And my opinion is IGNORE until you are sued, but keep everything you receive so you can know if your debt gets sold multiple times - keep this on the DL (yeah I'm not a lawyer & don't care whether you tell the truth).  

 

You can't really completely ignore now though since you sent validation requests.  My reason for saying ignore is because you can use affirmative defenses if you are sued that say you had no "prior course of dealing" with the person suing you - also "no meeting of the minds" as to the amount or account, etc.  Worked for me, you can read my case here, all of the paperwork for my case is available at the end of my thread (not sure what state your in, my paperwork is for California)  Also, my opinion only but much better to be sued by a JDB than an original creditor - be grateful that they sold it - you're half-way to done already! Good Luck!

 

http://www.creditinfocenter.com/community/topic/315816-ca-asset-acceptance-open-acct-acct-stated-s-about-discovery/

 

P.S. I was sued by Asset Acceptance 34 days before the SOL would have been done (4 years in CA).  Apparently, they almost always sue right before the SOL date - and they do know that date from the original creditor.

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P.S. I was sued by Asset Acceptance 34 days before the SOL would have been done (4 years in CA).  Apparently, they almost always sue right before the SOL date - and they do know that date from the original creditor.

No doubt AR software takes care of scheduling law suits based on SOL, face value, known assets, risk factors, etc.

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True that robo lawyers are making the SOL Gambit a thing of the past. That is why I say get ready to fight for the usual picadillos.

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Where can I find out if the agreement states a choice of law provison of Delaware.

 

I would in prudently preparing to fight this gather all the info for the debt as well as looking at the terms of the card agreement if the agreement states a choice of law provision of Delaware then the choice of law SOL would be 3 years and it would be possibly Sol. That is determined from 30 days from the last payment also known as date of first delinquency(DOFD). also if there is an arbitration provision it will help out.

 

For a debt this size they may or may not. We have seen them dismiss claims of greater debts 25k-45k but it will be a far gone conclusion that they will sue within 6 months. So early preparation is the key.

 

If they file a complaint, the day you get it send a BoP, then after 10 days +5 for mailing and I am sure some people are going to say don't file the motion to compel on shortened notice. Then demurrer the complaint for the reasons we have here on the board. That way you are going to come out swinging.

 

Look up Calawyers excellent and world renown Bill of Particulars, and we have a demurrer posted on here. There are other things but getting your ducks in a row and hitting them out of the gate will go along way.

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Wait a minute - you said the OC sold it in October 2009?  You may be closer to SOL than you think. 

 

Let's get some more information.

 

Who was the OC?

What year was the alleged account opened?

What year was the default?

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One defense you will have, since you stated 3 ca's have had this account, is making them prove ownership.

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Wait a minute - you said the OC sold it in October 2009?  You may be closer to SOL than you think. 

 

Let's get some more information.

 

Who was the OC?

What year was the alleged account opened?

What year was the default?

 

That's what I was thinking. Unless they sold it while it was still current, the SOL is probably up. Oct. 09 to August '13 is 3 years, 10 months and that is from the sale from the OC, not the start of the SOL.

 

Am I missing something?

 

And in answer to your original question, my wife had a cc that was around $16,000. Citi never took any action and still owns it. Delaware is a 3 year SOL and her last payment was in '08. That baby is long gone.

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I had a friend not get sued over $37K from American Express.  

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Wow. That's some bad record keeping there.

 

Either bad enough that they missed the SOL or bad enough that they weren't confident enough to sue.

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Yeah, I was lucky too. Not getting sued over the two debts that I had that were more than 30K each. The last JDB just droped off my TL last month, no rhyme or reason why. It's another two years before the seven years are up, but, I am past SOL...... Now, just waiting for the other shoe to drop, if it does.

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When I tried to go through brokers I got turned down. But then I applied to several banks, Wells Fargo and another bank approved me for the loan, so knowing about WF I went with the smaller bank which is in several states. Like you say, you just never know what a bank will do. I had a great underwriter.

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