SOL cash advance in Ohio?

[rose921]

Anyone know? Tried to look it up not sure if its considered a contract or returned check? Any help would be appreciated!

[RobertEG]

What are the circumstances of your transaction with them?

What were the terms of the contract you signed?

[rose921]

I had a cash advance a few years ago, thinking about 2008? I was not able to pay them in full on my next payday so they deposit the check I wrote them & it was returned from the bank. The term of the contract is payment in full on your next payday.
I have a collection account from Portfolio Recovery that is for this payday loan that I want to try to do a PFD but I was curious of what the SOL is before contacting them.

When I tried to look up the SOL, I'm not sure if it just falls under a bounced check or a signed contract ?

[pizzadude]

My guess is that it would fall under a written contract.

[RCOH]

In my understanding that would fall under the written contract SoL. There is a 15 year SoL in Ohio (live in Ohio as well) on written contracts.

[RobertEG]

As an agreement to pay in full on a set date, it looks to me to be a classic promissory note.

Regardless, I am certain that the issue has been addressed by prior case law in your jurisdiction, which would give a definitive answer.

I would recommend a quick consulation with an attorney in your jurisdiction familiar with case law interpretation of that type of instrument.

[rose921]

Thank you everyone for the advice. I plan to pay them anyways. I was just hoping the SOL would be something I could use to my advantage & settle for less then full balance.