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Valued Member
Watts
Posts: 32
Registered: ‎10-10-2012

SOL- need a better understanding

I have researched the general SOL, but what I don't get is what category things fall in.

I'm in Utah, are medical bills, credit lines and auto loans all in the same SOL category?
Moderator
Shogun
Posts: 7,374
Registered: ‎04-15-2011

Re: SOL- need a better understanding

The statute of limitations on debt in Utah limits the time you can be sued for a debt.

Oral Contract: 4 years

Written Contract: 6 years

Promissory Note: 6 years

Open-Ended Accounts: 4 years

 

Credit cards would be 4 years, auto loans, fixed loans would be 6 years.  Not sure on medical


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Valued Member
Watts
Posts: 32
Registered: ‎10-10-2012

Re: SOL- need a better understanding

Thank you for clarifying that... I have been racking my brain around which is which!!
Moderator
Shogun
Posts: 7,374
Registered: ‎04-15-2011

Re: SOL- need a better understanding

General rule concensus on Medical is that it's 6 years due to the fact that you sign the paperwork when services are rendered and it is neither oral or an open ended account.   But don't take this as a final answer because I'm not totally positive on that. 


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Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
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Valued Member
Watts
Posts: 32
Registered: ‎10-10-2012

Re: SOL- need a better understanding

Gotcha... Most of what I'm dealing with on my husbands report are old medical bills and 2 credit cards (les Schwab and Cap1). So this info is very helpful for negotiating!! Thanks again!

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