Who Knows What SOL Is?

[Anonymous]

This is an experiment, and I have no idea how well it's going to work.

If you're relatively new here, I'd like to hear what you know about SOL, or Statute Of Limitations.

[cgmiller63]

I always thought it meant Sh*t out of Luck 

[Anonymous]

Hi I am new and I will play. SOL is the amount of time a person can be held liable (taken to court) for breaking the law ?

Message Edited by Rockjock on 08-20-2007 06:49 PM

[fused]

duh?

[Anonymous]

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Noah_Bodie wrote:

This is an experiment, and I have no idea how well it's going to work.

If you're relatively new here, I'd like to hear what you know about SOL, or Statute Of Limitations.

---

I assume you are refering to SOL as it relates to financial matters, specifically a debt, and not to SOL of homocide or other criminal endeavors .

A creditor or CA can sue to recover a debt.

Each state has SOL for debts, ie: a period of time, a window, during which the creditor can sue.

Once this period of time has elapsed the debtor can no longer be sued, the debt is past the SOL.

The state's SOL sometimes varies for differing types of debts.

The SOL window begins when a debt has gone delinquent (uncertain of # of days).

The SOL window is unbroken unless the debtor pays/begins restitution, a judgement is made, etc.

Once the SOL is past, the creditor is sol.

The SOL has no relation to the length of time a debt can remain on one's CR (7-10yrs).

Not to be confused with the SOL of the Cirque du Soleil

Message Edited by Anderson on 08-20-2007 07:30 PM

[Anonymous]

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Noah_Bodie wrote:

This is an experiment, and I have no idea how well it's going to work.

If you're relatively new here, I'd like to hear what you know about SOL, or Statute Of Limitations.

---

YEAH  WHAT CGMILLER SAID

[Tuscani]

SOwhat?

[Anonymous]

Anderson wrote:

A creditor or CA can sue to recover a debt.

Each state has SOL for debts, ie: a period of time, a window, during which the creditor can sue.

Once this period of time has elapsed the debtor can no longer be sued, the debt is past the SOL.

The state's SOL sometimes varies for differing types of debts.

The SOL window begins when a debt has gone delinquent (uncertain of # of days).

The SOL window is unbroken unless the debtor pays/begins restitution, a judgement is made, etc.

Once the SOL is past, the creditor is sol.

The SOL has no relation to the length of time a debt can remain on one's CR (7-10yrs).

Perfect!

[Anonymous]

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Anderson wrote:

---

Noah_Bodie wrote:

This is an experiment, and I have no idea how well it's going to work.

If you're relatively new here, I'd like to hear what you know about SOL, or Statute Of Limitations.

---

I assume you are refering to SOL as it relates to financial matters, specifically a debt, and not to SOL of homocide or other criminal endeavors .

A creditor or CA can sue to recover a debt.

Each state has SOL for debts, ie: a period of time, a window, during which the creditor can sue.

Once this period of time has elapsed the debtor can no longer be sued, the debt is past the SOL.

The state's SOL sometimes varies for differing types of debts.

The SOL window begins when a debt has gone delinquent (uncertain of # of days).

The SOL window is unbroken unless the debtor pays/begins restitution, a judgement is made, etc.

Once the SOL is past, the creditor is sol.

The SOL has no relation to the length of time a debt can remain on one's CR (7-10yrs).

Not to be confused with the SOL of the Cirque du Soleil

Message Edited by Anderson on 08-20-2007 07:30 PM

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I think the creditor can still sue, but you can use the SOL defense in court.