SOL, different types and examples

[Anonymous]

Where I live the SOL on "Contracts" are 8 years, and "revolving credit" is 5 years. So can you give me examples of each?

Revolving I know would be like a sears card or other CC's, does that stay the same once they are in collections? What about dental bills, doctors visits, returned checks,etc and stuff like that?

Or maybe some one can better explain the different types of SOL, I'd appreciate it.

[Anonymous]

This is what it says by the way...

STATUTE OF LIMITATIONS (IN YEARS) Tort Claim (Subrogation) Prop & Personal: 3

Open Account: 5

Written Contract: 8

Domestic Judgment: 10

Justice of Peace Judgment: 10

BAD CHECK LAWS (CIVIL PENALTY) $100 minimum or 3 times fave value up to $500 plus face value of check and under UCC the value of the check plus $30 service charge per check.

[Anonymous]

The SOL will be the same if a CA has the account or the OC.

[Anonymous]

okay directly I am looking at this. What is a power bill or phone bill classified as? Is that a revolving or written contract? How many years can they collect on them regardless who olds the collecting?

[Anonymous]

I believe they are revolving.  With few exceptions, a creditor can continue to try to collect on a debt forever.  I say a few only because there is at least one state that says once the debt is time-barred, the debt is extinguished.

[Anonymous]

Type of account:   

open =  CC and utilities   

 promissory = auto, mortgage and any signed contract

SOL is usually set by the state BUT  There is a Federal SOL on phones and wire stuff. 2 years from DOFD.

CRTP is different from SOL.Even if past SOL it can remain on your CR for approx. 7 years from DOFD

Medical is different. SOL is usually about 4 years. Paid medical can be deleted by using the HIPAA process.

If a hospital (which most do) or a doctor, health clinic etc, receives Federal funds there may be no SOL.

The must delete from your CR 7 years from *date of service*.

[Anonymous]

According to my state the SOL for revolving or open accounts is 5 years. I have a CA remaining to try and collect on an account (that I dispute as me owing because when I moved out of an apartment I called to disconnect and the power company said they would not disconnet unless the landlord called to put it back in his name, well it never switched out of my name until he re-rented and they slapped me with the bill. I provided them with the lease that had ended and my new lease at a different place and they didn't care) any how its been 5 years can I tell the CA to buzz off now? also they put 400 NWE (power company) and then 700 other debts, um excuse me? Don't they have to list the debts instead of trying to sneak them in there?

[Anonymous]

what about a bounced check? how long can they try to collect on those? I forgot and closed an account and never even found out about it until checked my credit report and the existing business that I wrote the check on is out of business how long can they try and collect?

[Anonymous]

Check state resources. Some states have different SOL and laws on bounced checks.

Message Edited by HappyDays on 07-11-2009 09:03 PM