Should I send SOL and Cease& Desist to CA or get an attorney

[Anonymous]

The original state is the only state that you need to be concerned with tolling.

If that state does NOT toll, and you have done nothing to reset SOL, it appears you are in the clear.

Just make certain that if they do file, you appear in court.

Past SOL or not, if you don't appear, default judgment awarded against you.

As for FL not honoring another state's SOL, doesn't matter because if the original state had a more favorable SOL(for a minute let's assume 10 year SOL), the CA/OC could just sue you in that original state, even if you no longer live there. That is the state that the debt occured in.

[llecs]

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oracles wrote:
what is CRTP again, and what is the difference between CRTP and SOL. Thanks

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The Credit reporting time period (CRTP) is set by federal law per the FCRA at 7-7.5 yrs from DOFD. SOL or the statute of limitations is set by state law and that can range from 3 years on up from DOFD or sometimes last payment.

There's always exceptions. I was recently reminded about NY for CRTP (5 yrs).

[oracles]

thanks llecs, understand and oh, i live in NY and the only way the account can come off in 5 years if the account is paid. If it is not paid, then it stays on for 7-7.5 years. What I dont know the answer to is what if the account is settled but not paid in full, does it carry the same weight? I still dont know the answer to that.

[Anonymous]

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oracles wrote:
thanks llecs, understand and oh, i live in NY and the only way the account can come off in 5 years if the account is paid. If it is not paid, then it stays on for 7-7.5 years. What I dont know the answer to is what if the account is settled but not paid in full, does it carry the same weight? I still dont know the answer to that.

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http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=12137&view=by_da...

[oracles]

but it doesn't say anything about settling the account vs paid in full. If both situations meet the requirement for the 5 year mark that is great. I know if you pay in full it will come off but i have not read anywhere, that settling is ok and the account will also be removed.

[Anonymous]

Thanks Sidewinder and everyone who chimed in. Yes, I have not done anything to reset the SOL and no, MD does not have tolling. Regarding possible lawsuit, I am watching the mail and if they want to get jiggy and sue me, I will make certain to respond to the summons, any pre-trial conference and to court. I'm also aware that some attorneys will tell you that they will dismiss the case etc but I still will show up if this is the case. I will still try to contact at least 2 attorneys by Tuesday to get a conference. If I'm not sucessful, I will send the letter and use another term than cease and desist.