Re-aging of credit card debt vs statue of limitations

Nikki, The SOL for your state is six years. It would depend on when you made that payment to the law firm. Depending on that payment it would then go six years from the time you paid on the account. NOW...have you asked for validation on this debt? You are entitled to debt validation regardless of when you made your last payment. If you have not sent a debt validation letter I would send one by cerified mail asap. They will have to provide the ORIGINAL signed contract from the original creditor and show they have the right to collect it. This debt being 9 years old has probaly passed through so many hands and has a good chance of not having the proper paperwork. Is the collector showing on your report and reporting a last payment?

Tr5ue, it will depend on when you made the payment. Check on that date and get back to us. Do you have your reciepts? Do you have anything at all that shows what and when you paid? bank statement or reciept for your payment?

Since you have made a payment, your account has re-aged and you may be required to pay off the entire debt. For most of the debt the SOL is from 3 to 8 years and your SOL would have expired if you had not made a payment towards the debt. If you do not make the payment towards the debt now, the creditor can sue you to recover the debt. However, you should ask for debt validation before you start making any payment.

GUEST.........usually a debt is on your Credit for 7 years. It sounds like that 7 years has past. I don't see how they can (legally) garnish your wages after all of this time. Are they taking money out of your checks now? ..or, are they just SAYING they will? What state do you live in? Please give me a bit more information, please.

I live in Utah where the statue of limitations is 6 years. I am 2 mo. short of that sense last payment. I am being sued .My lawyer is contesting this on the basics of the statue of limitations in Virgina where Capital on is based is 3 years.On there application it was from Virgina. It has been 6 mo. and the judge has not made a discission. Anybody else ever used this?

Hi Heather

The SOL in your current state of residence will be applicable. However, sometimes creditors take the longer SOL as being applicable in case of a debt so that they can get a longer time period to pursue the debt.

Heather, The statute of limitations is different from state to state, meaning each one has their own set tie limit. The SOL in Alaska is 6 years, one of the longest. Your debt should be protected by the SOL if it was in the beginning of 2003 since this is the middle of 2009. It also will more than likely fall off next year. Creditors can still contact you on this debt they just would not be able to legally sue and win, that is if your dates are correct.