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Sorry..forgot to add that on my CR it shows that Asset Acceptance made an inquiry on my report in June 2008.
Question: Since the debt is no longer on my CR, should I assume that it may have been sold to another CA? Although I think the SOL was over..
Also, if there intent was to sue me shouldn't the debt be listed on my CR?
Thanks again
what state are you from, I can look up the statute of limitations for you then you will know for sure.
If you can list the state that you are in then somebody here will come along and let you know your statute of limitations.
whychat.5u.com
Sorry...
The original debt was Florida..
!002 whContract or written instrument and for mortgage foreclosure: 5 years. F.S. 95.11.
Libel, slander, or unpaid wages: 2 years.
Judgments: 20 years total and to be a lien on any real property, it has to be re-recorded for a second time at 10 years.
The limitations period begins from the date the last element of the cause of action occurred, (95.051). NOTE: The limitation period is tolled (stopped) for any period during which the debtor is absent from the state and each time a voluntary payment is made on a debt arising from a written instrument.
Almost all other actions fall under the 4-year catch-all limitations period, (F.S. 95.11(3)(p)).
OOPs posted too soon. I see the line on here that says the limited period is tolled for any period in which the debtor has left the state. Does that mean if you move the SOL never expires? I never heard of this before.
Florida Statutes of Limitation
Contract or written instrument and for mortgage foreclosure: 5 years. F.S. 95.11.
Libel, slander, or unpaid wages: 2 years.
Judgments: 20 years total and to be a lien on any real property, it has to be re-recorded for a second time at 10 years.
The limitations period begins from the date the last element of the cause of action occurred, (95.051). NOTE: The limitation period is tolled (stopped) for any period during which the debtor is absent from the state and each time a voluntary payment is made on a debt arising from a written instrument.
Almost all other actions fall under the 4-year catch-all limitations period, (F.S. 95.11(3)(p)).
We must ahve posted at the sa,e time. Go back and read my post and see if you can answer my question.
So...since I moved from the state to another state..The SOL never expires???
I am totally confused!
I think that since the debt is no longer on my CR it must of met the SOL this year; which actually makes sense since the date the debt went delinquent was around the 1997-1999 time frame.
I appreciate everyone's feedback~!
Thats what I am trying to find out. I nevr heard of this before. As far as your credit report they can only list a debt for seven years.
Last question to all you great folks..
So, if the debt is now passed the SOL can the CA still sue?
They can NOT sue after the statute of limitations runs out, but they can continue to try and collect.
BUT the state debt collection law staes that if you leave the state it stops the SOL. Go back and read it. I am confused how this could be. Here it is: The limitations period begins from the date the last element of the cause of action occurred, (95.051). NOTE: The limitation period is tolled (stopped) for any period during which the debtor is absent from the state and each time a voluntary payment is made on a debt arising from a written instrument.
These were two credit card debts that were intially opened in Florida. The actual delinquencies did not occur there, I stopped paying them when we moved out of the state.
Soo..I am not sure if this applies or not?
In Florida the statute of limitations on credit card debt (open ended credit) is 4 years. You do not make any payments to your credit card company for two years leaving only 2 years to go before the statutory period is up. Suddenly, you decide to move to Georgia, stay 12 months and then move back to Florida.
Florida statutes say that leaving the state or making a voluntary payment tolls (stops) the running of the statutory period. So, on the day you move back to Florida, the remaining 2 year statutory period begins running again.
On the other hand, if you had two years left on the statutory period and suddenly decided to make payments for 12 months but then stopped again, the 4-year statutory period begins running again. In effect you've reset the clock.
That one is a little more involved than most that we have come across, I did not know they got that complicated. What if they do not know you left the state? How do they verify that you have left at all? What happens if you don't move back at all, if the clock is paused when you move and you never moved back is it paused forever? or is there something there that lets it start ticking again if you move and never come back?
No, a collection agency can never sue you if the statute of limitation in your state has expired. However, if you repay even a small amount after the SOL period, the SOL will rewind and you will be liable to repay the entire debt. Even the Collection agency can sue you to the court to garnish your wages till the time your debt has been repaid in full. So it is always advisable not to pay any amount once the SOL has expired.
You are right that one is really involved. I am not sure how they could prove it but if you sought new employement or a change of address on your license, even applied for a new credit card using your new address this could be how they would know. Florida statutes blew me away. It just seemed a little u nfair to add the claus about moving.