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Established Member
Posts: 21
Registered: ‎04-13-2009
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Does getting a new card extend SOL on old card account

I have a couple of accounts that were closed, charged off, and ultimately sold to JDBs. Last payments were made in 2002. A couple of years ago, I was offered new accounts from two of these old companies, C1 and HouseHold Bank. I get both of these accounts approved, and they have been current for almost 2 years now. My question is, the SOL expired on the old accounts last year, but does opening new accounts re-start the SOL? Could the JDBs now sue and prevail?

 

Thanks!

Valued Contributor
Posts: 1,185
Registered: ‎03-04-2008
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Re: Does getting a new card extend SOL on old card account


WishingForAHouse wrote:

I have a couple of accounts that were closed, charged off, and ultimately sold to JDBs. Last payments were made in 2002. A couple of years ago, I was offered new accounts from two of these old companies, C1 and HouseHold Bank. I get both of these accounts approved, and they have been current for almost 2 years now. My question is, the SOL expired on the old accounts last year, but does opening new accounts re-start the SOL? Could the JDBs now sue and prevail?

 

Thanks!


You need to get this thread moved over to the correct forum where the right people are to answer your questions. A mod will probably do that for you. You might want to edit this post to include the state that you live in.

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Does getting a new card extend SOL on old card account

Assuming your state allows SOL to be restart after it expired (only a few states do), about the only thing that could restart it is with a payment to the OC on this debt. The OC has long since sold the debt to a CA and the CA to a JDB. So as long as you don't specify your payment as going to the old debt, you'll be OK.
Established Member
Posts: 21
Registered: ‎04-13-2009
0

Re: Does getting a new card extend SOL on old card account

Thanks for the input. My state is Washington, by the way. With that information, does your input change at all?

 

Thanks!

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Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Does getting a new card extend SOL on old card account

My opinion is the same.

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