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I live in VA. I believe the SOL is :
Open account: 3 years from the last payment or last charge for goods or services rendered on the account.
Written contracts (non-UCC): 5 years.
Sale of goods under the UCC: 4 years.
Virginia Judgments: 10 years, and renewable (extended) to 20 years.
Foreign judgments: 10 years.
I have an old Citi credit card that was opened 03/04. It was charged off as of 05/06 per EQ CR from 05/07. Midland bought this acct 08/10. How does the SOL apply to me? Someone please respond soon!!
Credit cards are always classified as Open Accounts from what I have read.
When the SOL clock starts is open for debate, but I think it would likely start no later than the point of being charged off, so I believe that the SOL has expired for this debt.
And to add ~ the SOL doesn't prevent you from being sued, it just gives you a valid defense in court....
@Lthomas356 wrote:I live in VA. I believe the SOL is :
Open account: 3 years from the last payment or last charge for goods or services rendered on the account.
Written contracts (non-UCC): 5 years.
Sale of goods under the UCC: 4 years.
Virginia Judgments: 10 years, and renewable (extended) to 20 years.
Foreign judgments: 10 years.
I have an old Citi credit card that was opened 03/04. It was charged off as of 05/06 per EQ CR from 05/07. Midland bought this acct 08/10. How does the SOL apply to me? Someone please respond soon!!
The DoFD (Date of First Delinquency) isn't listed but it looks like the SOL started a few months before the charge off in 5/2006. That means the SOL in VA has expired on this.
ETA: I was outyped big time on this.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
Hi there!! Thank you so much!! I will try to find another old CR other than this one to take with me to court.