12-27-2012 04:37 AM
My husband has some CC COs that have been bought by CAs. I was wondering about state SOLs. He was living in NY when he opened the CC accounts, but moved to AL before they went bad (for college) So at the DOFD, he was living here and we have been here since then. On the FICO credit report, his college address is listed as one of his addresses. Would NY or AL be considered for SOL?
12-27-2012 01:39 PM
Per FDCPA 811, a debt collector has the statutory option to bring civil action in either the jurisdiction where the contract creating the debt was signed, or in the current jurisdiction of residency of the consumer.
The SOL prevailing in any legal action is that of the jurisdiction of the court where the action is brought.
Action is usually brought in the jurisdiction of current residency of the plaintiff in order to minimize service of notice issues and requirements, but you may not know the actual SOL until they file action.
12-29-2012 01:15 AM
Thanks for your responses. I'm trying to tread carefully; here in AL, the SOL have been up a long time ago, but per NY's rules, we still have a year and a half. I've been holding off on PFDs because I don't want to wake a sleeping giant so to speak. I need to just stop being nervous and send them.