Rebuilding Your Credit

[momof2]

I sent a DV to a CA that was signed for on 5/12/08, still no word yet from them, nor have they had us served, SOL is not passed in that state debt incurred but has passed for calif. I assume if they were going to sue us they would have by now, or am I jumping the gun?

Since it is so close to their 30 day's what are the chances of them validating?

[Wonderin]

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momof2 wrote:

I sent a DV to a CA that was signed for on 5/12/08, still no word yet from them, nor have they had us served, SOL is not passed in that state debt incurred but has passed for calif. I assume if they were going to sue us they would have by now, or am I jumping the gun?

Since it is so close to their 30 day's what are the chances of them validating?

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SoL depends heavily on the state YOU are in and/or THEY are in.

Some states have laws that stop the "tolling" or stops the clock once you leave that state ; therefore, if you incurred the debt in say, Minnesota (don't know MN's laws, just giving an example) and MN's law says that the clock stops ticking when you leave the state, it will stay "set" on the year you left and will resume when you move back.

While it's more usual that the most lenient (to the consumer) laws are followed as to the "tolling," that's not always the case ...

I think whether or not they sue depends on how much you owe. They'd have filing costs to incur and it might not be worth their while. Especially since if you care about your credit and you're not close to SoL, they have just as good a chance to collect while they hold dings to your credit over your head.

I think what you have to watch for most in terms of when they might sue is right before the clock runs out ...

[momof2]

The debt was incurred in NV and they have that tolling thing, however I have no plans to move back to NV, but am still curious that since the 30 days are coming close and still have not heard anything from them yet, are they likely not to validate and also the amount on my CR's are as listed, EX and TU at $1623 and EQ is set at $1708.

[stef37]

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Wonderin wrote:

SoL depends heavily on the state YOU are in and/or THEY are in.

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SOL does not go by the state the CA or OC is in. OP was living in a different state when the account was opened then moved. Therefore it is possible to be sued in either.

OP, I know you are worried about this. I would be too. I would give them a few more day's and try not to worry so much about it. This can cause so much stress. I know it's important, but in the long run, it just isn't worth causing yourself ill health.

[Wonderin]

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stef37 wrote:
SOL does not go by the state the CA or OC is in. OP was living in a different state when the account was opened then moved. Therefore it is possible to be sued in either.

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Now I'm confused ... according to several legal websites, the SoL is determined by either the state the debt originated in, the state the OC resides, or the state the debtor resides in.

Meaning, if I lived in VA and had a debt (pretty sure it's one of those that stops the toll when you leave and resumes when you move back) originating in 2003, and I leave in 2004, the clock stopped at "1 year" ... and if I move back, it starts from that point.

Now, I live in FL, and my state doesn't have the "stop the clock" policy ... so according to MY state's laws, my SoL would be satisfied. But by VA's SoL, I'd still be legally liable. Therefore the OC/CA could sue using the VA law, right?

So what does the SoL go by? Not the debtor's state -- it couldn't if some states had the clock stop when the debtor moves. Or am I misunderstanding (which happens A LOT)?

No offense meant ... just REALLY confused!! o_O

[momof2]

stef37--- what do you mean by "OP"?

I am just really antsy b/c it is so close and I would really like to pay off my CC's with the money I have set aside for this CA in case they validate. However what they are reporting for the amount owed IS incorrect and only owe $1201 NOT $1708. But with the timing so close wouldnt they validate by now? for the amount of money you think that they would have validated by now.

[stef37]

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Wonderin wrote:

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stef37 wrote:
SOL does not go by the state the CA or OC is in. OP was living in a different state when the account was opened then moved. Therefore it is possible to be sued in either.

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Now I'm confused ... according to several legal websites, the SoL is determined by either the state the debt originated in, the state the OC resides, or the state the debtor resides in.

Meaning, if I lived in VA and had a debt (pretty sure it's one of those that stops the toll when you leave and resumes when you move back) originating in 2003, and I leave in 2004, the clock stopped at "1 year" ... and if I move back, it starts from that point.

Now, I live in FL, and my state doesn't have the "stop the clock" policy ... so according to MY state's laws, my SoL would be satisfied. But by VA's SoL, I'd still be legally liable. Therefore the OC/CA could sue using the VA law, right?

So what does the SoL go by? Not the debtor's state -- it couldn't if some states had the clock stop when the debtor moves. Or am I misunderstanding (which happens A LOT)?

No offense meant ... just REALLY confused!! o_O

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From the FDCPA

§ 811.  Legal actions by debt collectors   [15 USC 1692i]

(a) Any debt collector who brings any legal action on a debt against any consumer shall --

(1) in the case of an action to enforce an interest in real property securing the consumer's obligation, bring such action only in a judicial district or similar legal entity in which such real property is located; or

(2) in the case of an action not described in paragraph (1), bring such action only in the judicial district or similar legal entity --

(A) in which such consumer signed the contract sued upon; or

(B) in which such consumer resides at the commencement of the action.

(b) Nothing in this title shall be construed to authorize the bringing of legal actions by debt collectors.

[stef37]

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momof2 wrote:

stef37--- what do you mean by "OP"?

I am just really antsy b/c it is so close and I would really like to pay off my CC's with the money I have set aside for this CA in case they validate. However what they are reporting for the amount owed IS incorrect and only owe $1201 NOT $1708. But with the timing so close wouldnt they validate by now? for the amount of money you think that they would have validated by now.

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OP is for Original Poster.

I'm calculating day 30 as being June 11. So 17 days in. It's hard to be patient at times, especially when you have other bills that need your attention. Right now I can only speculate what the CA is doing. I would like to say I was calm during the time I had DV's and all kinds of other request out, but it would be a lie. Take a deep breath.

[slyhouse08]

They have 30 days to validate...and you have about 2 weeks to go...and just use whichever SOL is the longest...to be on the safe side...