SOL- when does it count?

[Anonymous]

When does the first SOL date count down from? Its it the date of last report, the date of first delinquent?

[Anonymous]

There are a few states that SOL runs from DOFD, a reduced CL(changing the terms), etc most are DOLA however.

You need to ask state AG's office whether it is based on DOLA or DOFD to be certain

[Anonymous]

---

Lady_Scarlet wrote:

There are a few states that SOL runs from DOFD, a reduced CL(changing the terms), etc most are DOLA however.

You need to ask state AG's office whether it is based on DOLA or DOFD to be certain

---

Who else could you ask but my state AG told me that don't deal with this when I emailed. Sent me a link to state statutes, which cover SOL but doesn't say when it starts.

[Anonymous]

I'm lost. I live in MN.

[Anonymous]

Realistically, any litigation attorney should know... especially any CONSUMER attorney.

If you can't get a definate answer use whichever is later (DOFD or DOLA) - that way you are 'safe' in calculating it.

Message Edited by Lady_Scarlet on 04-03-2008 10:00 AM

[Anonymous]

---

Lady_Scarlet wrote:

There are a few states that SOL runs from DOFD, a reduced CL(changing the terms), etc most are DOLA however.

You need to ask state AG's office whether it is based on DOLA or DOFD to be certain

---

It's not likely the AG's office will answer this.  They consider it to be a question of the legal interpretation of a statute, and they're not in the business of providing legal advice to the public.  You'd need to get an attorney's advice.

[Anonymous]

NOTE: Except where the Uniform Commercial Code otherwise prescribes, actions based on a contract or other obligation, express or implied, must be brought within 6 years after the cause of action occurred (Chapter 541).

Tolling: New written acknowledgement or payment tolls the statute of limitations for the debt.

Start count from the DOFD    SOL will change if any payment is made after that!!