Decipering NY DOFD Law?

braznyc · ‎12-16-2007

I was wondering if perhaps one of you kind folks who are far more intelligent than I on these matters could tell me how to read these collections laws for New York? I think it says 6 years from DOFD, but I'm not sure if I'm reading it correctly. If anyone could help that would be great. I read it, but NY has a long list, and I wasn't sure which part of that list referred to the DOFD on installment loan.

Thanks in advance, to anyone who can help me decipher what I'm reading.

Anonymous · ‎12-16-2007

braznyc wrote:
I was wondering if perhaps one of you kind folks who are far more intelligent than I on these matters could tell me how to read these collections laws for New York? I think it says 6 years from DOFD, but I'm not sure if I'm reading it correctly. If anyone could help that would be great. I read it, but NY has a long list, and I wasn't sure which part of that list referred to the DOFD on installment loan.

Thanks in advance, to anyone who can help me decipher what I'm reading.

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

SOL on almost everything normal is 6 years. then it goes into more detail & I for 1 would need a lawyer to read it

http://www.fair-debt-collection.com/SOL-by-State.html#7

installment loans are usually written contract where as CC are open.

Message Edited by HappyDays on 12-16-2007 06:11 PM

braznyc · ‎12-16-2007

Thanks Happy Days, I agree with you about needing a lawyer lol. I think I will run to the law school where I go to school and pick one of those professors brains tomorrow, before everyone leaves. I think it's 6 years, but I just want to be sure.

You guys are soooo helpful, it makes me feel better despite my situation

Anonymous · ‎12-16-2007

Your more then welcome. If you learn anything new on this, let us know.