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New Member
ellicel
Posts: 28
Registered: ‎09-30-2012
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Effect of PFD on SOL?

I sent a PFD to Unique for a debt from 2009. They haven't responded but now I'm wondering if I shouldn't have just left it alone. Does my offer to settle restart the SOL clock? (I did state in the letter that I was not acknowledging the debt)

Unfortunately I found out about PFDs before I learner that I should have sent a DV request. Since they didn't respond to the PFD can I go back a step and request validation?

Thanks for all your help and support! Since finding this board and learning what to do and even what to say in my letters I've gotten three deletions in one month!!! I owe that to all of you who post your questions and answers here.

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New Contributor
Elcid89
Posts: 567
Registered: ‎10-04-2012
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Re: Effect of PFD on SOL?


ellicel wrote:
I sent a PFD to Unique for a debt from 2009. They haven't responded but now I'm wondering if I shouldn't have just left it alone. Does my offer to settle restart the SOL clock? (I did state in the letter that I was not acknowledging the debt)

Unfortunately I found out about PFDs before I learner that I should have sent a DV request. Since they didn't respond to the PFD can I go back a step and request validation?

Thanks for all your help and support! Since finding this board and learning what to do and even what to say in my letters I've gotten three deletions in one month!!! I owe that to all of you who post your questions and answers here.

It depends on the laws of your state, but yes, an offer to pay can reset the SOL clock.  While most every state has adopted UCC, they all differ in how they implemented it and they approach the situation differently, so it depends on where you live.

 

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rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
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Re: Effect of PFD on SOL?


ellicel wrote:
I sent a PFD to Unique for a debt from 2009. They haven't responded but now I'm wondering if I shouldn't have just left it alone. Does my offer to settle restart the SOL clock? (I did state in the letter that I was not acknowledging the debt)

Unfortunately I found out about PFDs before I learner that I should have sent a DV request. Since they didn't respond to the PFD can I go back a step and request validation?

Thanks for all your help and support! Since finding this board and learning what to do and even what to say in my letters I've gotten three deletions in one month!!! I owe that to all of you who post your questions and answers here.

Are you concerned with the SOL or the CRTP?

 

Because if you are planning to pay at somepoint, either via PFD or settlement and try to GW later, the SOL is completely irrelevant to you; and the CRTP is always based on the DOFD, which will not have changed merely by making an offer.

 

-scott

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New Member
ellicel
Posts: 28
Registered: ‎09-30-2012
0

Re: Effect of PFD on SOL?

I had read that when a CA gets a DV they are less likely to validate if the SOL has run out. So I'm thinking that since I did it backward now I might have given them an incentive to validate. As you can tell I'm quite new to the boards so every day I'm learning something new here from reading others' experience.

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Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Effect of PFD on SOL?

Good job on not acknowledging the debt.  As long as you have the funds to pay if they accept a PFD you will be just fine.  You haven't reset the clock on anything.  If they accept it,pay it and it's done.   


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