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I defaulted on the first credit card while in college that was that was 8 years ago. The CC Company closed the account and passed it to collections. I got the first collection call in 2006 and agreed to set up a monthly payment that was directly debited from my account. For 2 months the CA continued to accept the payment but after that they stopped. I was very busy with my new job and it was long before I discovered they had stopped taking payments. Now in July 2009 I have received summons for the same debt. I am a bit confused about all this. I am currently a permanent resident of Texas where the SOL period is 4 yrs.
Hi Philip,
The SOL period of the debt begins from the date you first defaulted on payments towards the debt accounts. But in your case you made the payments to the collection agency in 2006, so the SOL clock was restarted. The SOL period of your debt accounts are due to expire in 2010 (as SOL period in Texas is 4 years).
You should first file an answer to the summons. You will have to do a bit of homework, before you reply to the summons. You can provide the court with any written proof that you had set up a monthly payment plan with the collection agency. Your old bank account statements can prove that you provided the collection agency, access to your account to debit the debt amount. If you are able to produce the documents I have mentioned, the judgment may go in your favor.