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understanding SOL


samsun
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Hi,

 

would appreciate if some1 help me understand this

 

i lived in a state A opened CCs there... 

 

 

then i started defaulting 6 years back in same state but i moved for 2 month to state b dofd recorded for one card there, moved to c dofd for another card there and moved back to A another 2 months later and lived there till 2 months i ago i moved back to state b.

 

now the sols for states A,B,C are 4,5,5 i was thinkin i crossed sol all these days but now im confused since i saw dofd date match address first reported dates in CRs ..something for me worry here...thanks

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There is no quick answer.   SOL is indeed state by state.  Some state laws include a "tolling" provision which says the SOL eriod stops when you leave the state and starts again if you return.  Some CC agreements include a "governed by the laws of" provision (usually Delaware or South Dakota).  DE's SOL is only 3 yrs.  Some statues include a "borrowing provision" which means you can use the SOL from another state involved in the case.

 

And, the FDCPA says if you are going to be sued, it should be in the state where the card was issued or the state where you currently reside.

 

Best bet...if you are sued...show up in court...raise the SOL that's of most benefit to you, and let the judge decide.

 

(Just so we're clear...the SOL doesn't make the debt go away...you still owe it.  It only means if the judge agrees, they can't use the courts to enforce payment.)

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