@Anonymous wrote:So assuming the debt is still within the statute of limitations, what do you guys think is the best course forward? Try and negotiate a settlement with the law firm representing Barclays? If so, what percentage would you offer?
Yes and start low, around 20%. They'll most likely decline, but they'll also probably counter and just negotiate from there to something you can comfortably pay on.
You can certainly try, but most likely IF they even agree to PFD in the first place, they'd want the full balance. Either way, if you can get them to agree, make sure you get it in writing. Good luck.
@Anonymous wrote:
@Azuieldrago wrote:1. In terms of statute of limitations (for the law firm suing her), which states rules apply? State she lives in.
2. Assuming it's VA...as best I can tell the statute of limitations is 3 years?
3A. Do we count the 3 years from the DOFD or from the DOLP?
3B. Is the statute of limitations clock re-set by her partial payment in June? Unfortunetly yes.
4. In terms of this falling off her credit report, do we count 7 years from DOFD or DOLP? DOFD
Thank you so much for anyone that is able to clarify these questions!
Thats all I know.
Not saying your info is wrong, because I truly don't know, but in researching this very subject on these very forums I've read information that claims the SOL is based on the state where the account went delinquent. Aka if you had an account in Dakota (there's only one in this example) and you moved to Carolina (there's only one) and then you went delinquent, Carolina's SOL would apply. But if you had the account in Dakota, and went delinquent in Dakota, and then moved to Carolina, Dakota's SOL would apply.
I'd super like to know for sure one way or the other, because I've read a lot here and nothing has clarified beyond a shadow of a doubt. I have one account that is either 1yr and 9 months past the SOL or 3 months from passing the SOL. 😳
Last I checked, they can sue wherever it's convenient for them. Where the contract, was created, where you moved to, a state they have an office in. @RobertEG would be able to tell you for sure, without doubt.
@Anonymous wrote:
@Brian_Earl_Spilner wrote:
@Anonymous wrote:
@Azuieldrago wrote:1. In terms of statute of limitations (for the law firm suing her), which states rules apply? State she lives in.
2. Assuming it's VA...as best I can tell the statute of limitations is 3 years?
3A. Do we count the 3 years from the DOFD or from the DOLP?
3B. Is the statute of limitations clock re-set by her partial payment in June? Unfortunetly yes.
4. In terms of this falling off her credit report, do we count 7 years from DOFD or DOLP? DOFD
Thank you so much for anyone that is able to clarify these questions!
Thats all I know.
Not saying your info is wrong, because I truly don't know, but in researching this very subject on these very forums I've read information that claims the SOL is based on the state where the account went delinquent. Aka if you had an account in Dakota (there's only one in this example) and you moved to Carolina (there's only one) and then you went delinquent, Carolina's SOL would apply. But if you had the account in Dakota, and went delinquent in Dakota, and then moved to Carolina, Dakota's SOL would apply.
I'd super like to know for sure one way or the other, because I've read a lot here and nothing has clarified beyond a shadow of a doubt. I have one account that is either 1yr and 9 months past the SOL or 3 months from passing the SOL. 😳
Last I checked, they can sue wherever it's convenient for them. Where the contract, was created, where you moved to, a state they have an office in. @RobertEG would be able to tell you for sure, without doubt.
Right, but that doesn't answer whose SOL applies after you've been sued. Even this article on wallethub isn't really sure:
The simple answer is that in most cases either the SOL for the state you live in now or the state you lived in when you entered into the credit card agreement will apply.
It basically says that the company suing you can decide which states SOL to use and then you have to defend against that action, hoping the state they chose (if it's different from the state where the debt was defaulted on) has precedent disallowing them from doing so.
They can also use the state the creditor is incorporated in if its longer than either of these.
@Anonymous wrote:So in this post the lawyer states a partial payment is probably not enough to restart the SOL: https://robertweed.com/2013/06/20/statute-of-limitation-in-virginia-for-credit-cards/
He included a broken link to the VA code...but I just went and manually dug up the section of VA law he references: § 8.01-229. Suspension or tolling of statute of limitations; effect of disabilities; effect of death; injunction; prevention of service by defendant; dismissal, nonsuit or abatement; devise for payment of debts; new promises; debts proved in creditors' suits.
I believe the relevant section can be found here:
G. Effect of new promise in writing.
1. If any person against whom a right of action has accrued on any contract, other than a judgment or recognizance, promises, by writing signed by him or his agent, payment of money on such contract, the person to whom the right has accrued may maintain an action for the money so promised, within such number of years after such promise as it might be maintained if such promise were the original cause of action. An acknowledgment in writing, from which a promise of payment may be implied, shall be deemed to be such promise within the meaning of this subsection.
That legalese is painful to read but i think the key point is that it specifically states "promises, by writing signed by him or his agent, payment of money on such contract, the person to whom the right has accrued may maintain an action for the money so promised, within such number of years after such promise"
and then it goes on to say:
"An acknowledgment in writing, from which a promise of payment may be implied, shall be deemed to be such promise within the meaning of this subsection."
So it seems pretty clear that they are saying the promise-to-pay must be in writing in order to trigger a restart on the SOL clock.
That is how I interpret it. The original clock starts with the OCs DoFD and runs continuously unless something tolls it or its reset by a new promise to pay in writing.