Jackie1989 Posted April 25, 2019 Report Share Posted April 25, 2019 I have received a summons from a jdb attorney. this is not for credit card debt, but rather a written contract. it was a line of credit once with fleert bank that bank of america took over. They created an amended loan agreement - to get 50% more interest- . Anyways, i defaulted. last payment was january 2016. i was reading the contract and there is a "dispute resolution provision" which has arbitration. Also it states that "governing law" I am wonering if this is an angle for statute of limitations? any help is greatly appreciated Quote Link to comment Share on other sites More sharing options...
Harry Seaward Posted April 25, 2019 Report Share Posted April 25, 2019 SOL on written contracts in Connecticut is 6 years. Do you happen to have your original contract? Arbitration is going to be your best option, if arbitration is available in your contract. Read the first few posts of this thread to see how it works. https://www.creditinfocenter.com/community/topic/329436-arbitration-overview-and-strategy-2018-most-up-to-date-info/ Quote Link to comment Share on other sites More sharing options...
Jackie1989 Posted April 25, 2019 Author Report Share Posted April 25, 2019 the governing law for this written contract is North Carolina. Does that help me in any way? Quote Link to comment Share on other sites More sharing options...
Jackie1989 Posted April 25, 2019 Author Report Share Posted April 25, 2019 the lawyer filed it as an exhibit and it has arbitration Quote Link to comment Share on other sites More sharing options...
nobk4me Posted April 25, 2019 Report Share Posted April 25, 2019 5 minutes ago, Jackie1989 said: the governing law for this written contract is North Carolina. Does that help me in any way? Maybe, IF your state has a borrowing statute, and the SOL in NC is 3 years or less. Quote Link to comment Share on other sites More sharing options...
Jackie1989 Posted April 25, 2019 Author Report Share Posted April 25, 2019 I AM IN CONNECTICUT Quote Link to comment Share on other sites More sharing options...
nobk4me Posted April 26, 2019 Report Share Posted April 26, 2019 Doing some googling: 1. it looks like the NC SOL is 3 years; and; 2. CT may have a borrowing statute: Note, I am not a lawyer and am not an expert in the laws of these states. Maybe someone with more knowledge can help here? Quote Link to comment Share on other sites More sharing options...
Harry Seaward Posted April 27, 2019 Report Share Posted April 27, 2019 On 4/25/2019 at 12:23 PM, Jackie1989 said: the lawyer filed it as an exhibit and it has arbitration Then I would use arbitration. If SOL is a viable defense in court, it's every bit as viable in arbitration. But it'll never come to that. The JDB will dismiss their claims against you once arbitration gets underway. Read that thread I linked to for info on arbitration. Quote Link to comment Share on other sites More sharing options...
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