Can anyone settle NY SOL re-set once and for all?

Anonymous · ‎02-07-2008

I keep hearing people say if you make any payments to a CA you re-set your SOL. However, I've heard from what I consider to be more reliable sources that in fact that is not true, that if you make payments to the *OC* you might in fact be acknowledging the contract/debt you signed with them, but making payments to a CA that bought the debt, that you did not enter into any debtor contract with, does not re-set SOL, leastways in NYC.

Any ideas on this?

I made payments, before I discovered this forum, to two Collection Agencies for 5-7 year old debts, then stopped when I realized I was doing my credit no good and had paid them in fact 10x s of times more then they bought the debt for.

Anonymous · ‎02-12-2008

Payments tend to reset SOL in many states, but I've not been able to find details about NY.

I presume you're in NYC. If so, give DCA a call. They might be able to tell you straight out.

http://www.nyc.gov/html/dca/html/publications/publications.shtml

Anonymous · ‎02-12-2008

Found this. Erdheim v. Gelfman

http://www.courts.state.ny.us/reporter/slips/12615.htm

Anonymous · ‎02-26-2008

I wonder if anyone has ever tried a defense along the lines of;

1) I made a couple of payments because I (naively) assumed the info on my report was correct

2) I subsequently stopped payments and demanded full documentation of the validity of the debt, which I did not receive.

Could the courts really uphold 're-setting' SOL under the premise that you 'acknowledged' the debt, since subsequently you asked for proof which was not provided?

I ask because the two debts which I made payments on just 2-3 months before the went out of SOL (in NYC) are held by CA's. So it is possible I re-set SOL, and they have 'validated' the debt twice. However some of the info is wrong, and in both cases very incomplete. I'd wager that there are very few if any records left at all.

I'm getting a credit-lawyer to review to see if I can hard-ball them, but if THEY ever tried to sue wouldn't they HAVE to show up with full documentation, not just 'we bought this debt'?

Anonymous · ‎02-26-2008

As long as you respond and send interrogatories and ask for discovery - yes. And to win they would need full media documentation.

Anonymous · ‎02-26-2008

@Anonymous wrote:
As long as you respond and send interrogatories and ask for discovery - yes. And to win they would need full media documentation.

Thanks Lady_Scarlet. So do I have anything to lose by sending out my DV/OC letters to these creditors? To my mind, at best they say screw it and drop off, middle of road they ignore me and keep it on the reports status quo, next to worst case is they up their collection efforts to a summons w/o validating and I (hopefully) win on no-doc/no validate AND counter-sue, worst case is the provide documentation and a summons and I offer to make monthlies.

Anonymous · ‎02-26-2008

Actually, if they don't validate they can't sue (considered collection activity per FTC opinion letter). Doesn't mean they won't try - but you can get it stayed, if not dismissed.

To MY (note the my) knowledge, making a payment to a CA after the OC has charged off the debt to P/L does not re-set SOL... I have yet to find anything definite and it may vary by state.

Anonymous · ‎02-26-2008

Given the sparsity of information they report on the accounts (outside of balance, date reported, and original creditor they have nothing) I'd imagine they don't have much information. In fact, even the incomplete info between Experian and TU doesn't jibe (date assigned, account open, etc.).

One CA is for Household, whose only info is it was an account sold to another lender.

Anonymous · ‎02-26-2008

@Anonymous wrote:
Actually, if they don't validate they can't sue (considered collection activity per FTC opinion letter). Doesn't mean they won't try - but you can get it stayed, if not dismissed.
To MY (note the my) knowledge, making a payment to a CA after the OC has charged off the debt to P/L does not re-set SOL... I have yet to find anything definite and it may vary by state.

I have heard the same thing, that re-setting SOL only applied to payments to OC.