Charge Off now shows new reporting with new CA

[Anonymous]

I had a charge off back in 2005 that was sent to a CA.  I paid them for a year and then found it to be useless so left a balance o $233.  Now a new CA bought the debt a year later and are now reporting the Collection.  I thought it would drop off after a certain time but now I see it has found new life.  Anything I can do?

[Anonymous]

If it was charged off in 2005 it will be on your CR until 2012. I do not think making payments on a CO resets the SOL. What type of account and what state are you in?

[tri3nity]

The sol does start over if you start paying on any account. You have to be careful about this, especially if the account is old, co or not.

[Anonymous]

That depends on the state you are in.

[Anonymous]

It was an Overdraft of a Checking acct in North Carolina.  The Bank shows the balance as $0 on the CR listing charge off transferred to another lender in description field.

[Anonymous]

If it was charged off by the OC and transferred to a CA, making a payment will not reset SOL. The SOL is determined by DOLA/DOFD by OC. I am not sure where this would fall as far as type of account. NC SOL run from 3- 5 years. If you want it off send a PFD to the CA. No guarantees but worth the try.

Message Edited by guiness56 on 04-21-2008 10:20 PM

[Anonymous]

Some states have laws that are only for bad checks. You will need to go to the N.C state site & hunt for that info.  I do not have it   BUT for other debts  YES by making any payment restarted your SOL!

Express or implied contract, not under seal: 3 years.

Contract and sale of personal property under seal: 10 years.

Open account: 3 years, NOTE: Each payment renews the SoL on all items purchased within the 3 years prior that payment. If no payment is made, the SoL runs from date of each individual charge. Contracts: From date of breach or default, unless waived or performance under the contract is continued.

Judgments: 10 years

Partial payment BEFORE the SoL expires renews the SoL from date of payment.

Payment AFTER SoL expires renews SoL ONLY if, at time of payment, circumstances infer the debtor recognized obligation to pay. Partial payment on open account restarts SoL on purchases made within 3 years of payment date, if acknowledgment can be inferred, starts the statute anew as to the full obligation acknowledged, even if all of the charges were not made within the last three years.NC Continued...

Partial payment by one debtor does not renew the statute of limitations as against any a co-debtor unless that co-debtor agreed to, authorized or ratified the partial payment.

Partial payments DO NOT affect the ten-year limitation on enforcing or renewing judgments.

Bankruptcy, Death or Disability: Filing of a bankruptcy tolls the statute of limitations for the enforcement of contracts and judgments.

The death, minority, disability or incompetence of a debtor also tolls the limitation period until such time as a personal representative of the estate or a guardian of the incompetent or minor is appointed.

[Anonymous]

Sorry if somewhat OT

I just was reading this post and the phrase "acknowledgement may be inferred".

Scared to death I may have reset SOL. BF has unpaid CO now with a CA talked to them before joining this Forum.  Made no agreements or anything but did "acknowledge" knowing about the debt.

It was already SOL to the best of our knowledge.  Auto loan DOFD 12/02 in Florida.  Spoke to CA in March 08.

Does this resetting of SOL only apply if payment is made?

NAFS is collecting for Cavalry.... spoke to NAFS

[Anonymous]

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@Anonymous wrote:

Sorry if somewhat OT

I just was reading this post and the phrase "acknowledgement may be inferred".

Scared to death I may have reset SOL. BF has unpaid CO now with a CA talked to them before joining this Forum. Made no agreements or anything but did "acknowledge" knowing about the debt.

It was already SOL to the best of our knowledge. Auto loan DOFD 12/02 in Florida. Spoke to CA in March 08.

Does this resetting of SOL only apply if payment is made?

NAFS is collecting for Cavalry.... spoke to NAFS

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This is what FL says: But if you talked to them and not BF, 1. Unless you are on the account they should not have talked to you 2. What you said should not be considered if you are not responsible. IMO

Florida Statutes of Limitation

Contract or written instrument and for mortgage foreclosure: 5 years. F.S. 95.11.

Libel, slander, or unpaid wages: 2 years.

Judgments: 20 years total and to be a lien on any real property, it has to be re-recorded for a second time at 10 years.

The limitations period begins from the date the last element of the cause of action occurred, (95.051). NOTE: The limitation period is tolled (stopped) for any period during which the debtor is absent from the state and each time a voluntary payment is made on a debt arising from a written instrument.

Almost all other actions fall under the 4-year catch-all limitations period, (F.S. 95.11(3)(p)).

Up Georgia Statutes of Limitation