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Member
Posts: 24
Registered: ‎02-19-2013
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Re: Need Advice! Please Help

The SOL is from the state in which the creditors address is located, correct? Not where my residence is? I'm not sure how I would find that out. Do I Google their address to then find what the SOL is for that state? At 26 I should know these answers. 

Member
Posts: 24
Registered: ‎02-19-2013
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Re: Need Advice! Please Help

This is from Maryland and why I'm partially confused. 

 

The Statute of Limitations may be Based on the Original Contract and may Vary Depending on the Type of Contract and Contract Language

It is necessary to understand that the applicable statute of limitations for a particular debt may not be based on where a consumer resides or where a legal action is brought; instead, the applicable statute of limitations might be based on the language of the original contract (such as a credit card agreement); the original contract typically specifies which state's laws apply. Thus, even if you live in Maryland, a particular obligation may be based, for example, on the laws of Nevada, South Dakota, or Delaware, or whatever state is specified in the original contract. However, there are other factors which could also impact which state's laws (including the applicable statutes of limitations) apply to a particular agreement.
 
Next, the length of a particular state's statute of limitations may vary depending on the type of contract at issue and on specific language in the contract. For example, if a debt arises under Maryland law, depending on the original contract, the applicable statute of limitations could be 3 years, or could be 4 years, or could be even 12 years

Established Contributor
Posts: 640
Registered: ‎11-20-2012
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Re: Need Advice! Please Help

No, your state. Not the creditor's state.

What state do you live in?

Member
Posts: 24
Registered: ‎02-19-2013
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Re: Need Advice! Please Help

Maryland

Moderator
Posts: 22,406
Registered: ‎01-17-2008
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Re: Need Advice! Please Help

Yes, a creditor can use either.  However, it is generally the state you currently reside in because you have to be sued where you live.

Member
Posts: 24
Registered: ‎02-19-2013
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Re: Need Advice! Please Help

This is what I am finding in regards to Maryland.

 

Three-Year Statute

Maryland Code Section 5-101 states that a civil action must be filed within three years after it accrues. This is a general statute of limitation that applies to a debt, unless there is a more specific statute that applies to a particular debt. Debts based on contract, both written and oral, as well as debts based on open accounts, such as credit cards, are subject to the three-year limitation period.

Moderator
Posts: 22,406
Registered: ‎01-17-2008
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Re: Need Advice! Please Help

Yes, from the time you went delinquent, the creditor has 3 years to bring a suit against you.

Community Leader
Valued Contributor
Posts: 2,383
Registered: ‎11-29-2012
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Re: Need Advice! Please Help

To make it simpler, the very first collection on your report (Captal One) it says the date of last payment was in 2007, so they had to sure you before 2010 was up.  


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
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Member
Posts: 24
Registered: ‎02-19-2013
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Re: Need Advice! Please Help

Good. The CC's are going on 6 years and are set to fall off in 2014. I have 3 will that drastically help my score? Do I start working on the $2500 medical bill or the judgement from the apartment complex? Since the judgement is shared am I still liable for the entirety of the $3200. Probably so.

Member
Posts: 24
Registered: ‎02-19-2013
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Re: Need Advice! Please Help

Thanks for all the help everyone, I really do appreciate it. 

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