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The answer is 'No" in paragraph one. Legal SOL cannot be reset, except for judgments (I think) in some states. Yes, on your PFD comments.Edited to add: attempting to pay is not the same as paying
@valley_man0505 wrote:Yes, but couldn't they just say "no, we don't want to do a PFD" and then reset the SOL by saying the you renewed the DOLA by offering to pay? Isn't "making a promise to pay" one of the scenarios that can cause the SOL to reset? This question only applies if someone tries this before the SOL is up--from my understanding, once the SOL is expired, it can be reset again.
@cw81 wrote:
>
The SOL clock starts ticking from DOFD not DOLA so it cannot be reset by changing DOLA. The DOLA can change ,because if you do make a payment that will be the reported DOLA but that doesn't change the DOFD. If the SOL isn't up you can be sued if you haven't come to some sort of agreement. I hope this helps.
I'm not sure where you are getting this information from but it's entirely false.
valley_man0505 wrote:
Yes, but couldn't they just say "no, we don't want to do a PFD" and then reset the SOL by saying the you renewed the DOLA by offering to pay? Absolutely no! YOU didn't pay...period!Isn't "making a promise to pay" one of the scenarios that can cause the SOL to reset?Absolutely no!!!!This question only applies if someone tries this before the SOL is up--from my understanding, once the SOL is expired, it can be reset again. No way!
@Anonymous wrote:
@cw81 wrote:
>
The SOL clock starts ticking from DOFD not DOLA so it cannot be reset by changing DOLA. The DOLA can change ,because if you do make a payment that will be the reported DOLA but that doesn't change the DOFD. If the SOL isn't up you can be sued if you haven't come to some sort of agreement. I hope this helps.
No, that is incorrect. SoL begins at DOLA (exact legal phrase is "date last action occurred" which is translated to "date of last activity" ).
CRTP, however, DOES being at DOFD.
Not the same.
And yes, making a payment CAN reset the DOLA (depending on the state, of course). But a PFD request does not since 1) no payment is actually MADE, merely the offer to settle the debt without admitting ownership, and 2) once it's been PFD'ed successfully, the debt is settled, therefore there's no "reseting" of the clock on a paid debt.
Message Edited by Wonderin on 08-07-2008 01:30 PM
@cw81 wrote:
I might be wrong with but I believe the SOL cannot be changed if a payment is made to anyone after the OC has charged it off.
Message Edited by cw81 on 08-07-2008 12:13 PM