SOL NYS

[MOMO30]

PLEASE SOMEONE TELL IF IM CORRECT IS THE SOL FOR NYS SIX YEARS FOR UNPAID COLLECTIONS. I'M AWARE IT'S FIVE YEARA FOR PAID COLLECTIONS AND THEN THERE REMOVED.. THANKS IN ADVANCE! SIX YEARS AND THEY CAN'T TURN AROUND AND SUE YOU?

[LIGHTNIN]

Yes from what I've read, NYS SOL is 6 yrs and the CRTP for paid CA is 5yrs. Unpaid CA would be 7.5yrs.

There are some threads about this recently, use the search to find

[mxp114]

OC or CA can sue you at anytime, even when SOL is expired. However SOL expiration is a valid defense and the court will dismiss the case. It is however your job to bring this up in court and make sure you don't ignore any court dates. The NYS SOL is six years however the NY Court of Appeals (the state's highest court) unanimously ruled that creditors in states with a lower SOL cannot take advantage of NY states six year SOL. So for example a NY resident with a Bank of America card, the SOL is three years because BofA is based in DE where the SOL is three. All lower courts in NYS are bound by this precedent.

[drkaje]

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@mxp114 wrote:

OC or CA can sue you at anytime, even when SOL is expired. However SOL expiration is a valid defense and the court will dismiss the case. It is however your job to bring this up in court and make sure you don't ignore any court dates. The NYS SOL is six years however the NY Court of Appeals (the state's highest court) unanimously ruled that creditors in states with a lower SOL cannot take advantage of NY states six year SOL. So for example a NY resident with a Bank of America card, the SOL is three years because BofA is based in DE where the SOL is three. All lower courts in NYS are bound by this precedent.

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I wonder how many people know that.

[mxp114]

Not very many people do and I bet so many have paid on expired debts and thus extended the SOL. That's why I highly recommend people review not only the laws but relevant court decisions.