CA account, SOL question

[txmomma26]

Back in 2008, I had a voluntary repo. After auction, fees, etc etc, Santander said I owed approx $7300. In 2010, they charged off that amount. In 2012 they sold the debt to a junk buyer. Fast forward to today, and I'm cleaning up and rebuilding. This is my last major derogatory. Both Santander and the junk buyer (main street/cascade) are showing on my reports. Santander shows the lates and history until it was sold and reports a $0 balance.

Date of first delinquency was August 2008
Date of last payment was June 2010, when I gave a collection agency $100 to shut them up.

Texas has a 4 year statute of limitations. My question is, am I out of that based on date of first delinquency, since the account was nowhere near current with my $100 payment or did I screw up when I didn't know better in 2010? And if I'm outside the SOL, what % is a "good" settlement offer?

[DaBears]

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@txmomma26 wrote:
Back in 2008, I had a voluntary repo. After auction, fees, etc etc, Santander said I owed approx $7300. In 2010, they charged off that amount. In 2012 they sold the debt to a junk buyer. Fast forward to today, and I'm cleaning up and rebuilding. This is my last major derogatory. Both Santander and the junk buyer (main street/cascade) are showing on my reports. Santander shows the lates and history until it was sold and reports a $0 balance.

Date of first delinquency was August 2008
Date of last payment was June 2010, when I gave a collection agency $100 to shut them up.

Texas has a 4 year statute of limitations. My question is, am I out of that based on date of first delinquency, since the account was nowhere near current with my $100 payment or did I screw up when I didn't know better in 2010? And if I'm outside the SOL, what % is a "good" settlement offer?

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I'm not sure how Texas laws work but by making that $100 payment to the CA might restart the SOL. I would double check your reports. If not then I would start at 25% always start low then if you have to meet in the middle with them. Good luck.

[txmomma26]

Where on the reports would I look? Or what wording would I look for?

[Anonymous]

In TX making a payment without a new written agreement does not restart the state SOL.