littlesiste1220 wrote:
What exactly are we supposed to do with them? Also look on the SOL and could not find anything that would help me. What do I do with it??
While the links in the State Resources may include your SOL info, it is easily found here:
http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8
The links within your state are general and are geared towards various topics of interest relating mostly to credit repair. Within your state, you'll find links to licensing info, if required. You can use that info to legally target a CA if they are not allowed to collect within your state. Also has contact info the the regulating agencies within that state. This is helpful if a CA has wronged you and are looking for legal assistance from your AG, Ins. commissioner, etc. Also has links to the statutes that relate back to topics of credit repair. You can look up the laws to see if a CA did something illegal on the state-level or look up laws the relate to creditors.
SOL is necessary to know before beginning repair. If you tackle a debt that is within SOL and you don't have the $$$ to PIF, any letter like a DV or PFD will likely lead to a lawsuit against you. If out of SOL, the creditor can try to sue, but you'd have a time-barred defense because a CA/OC has a finite time to sue.
Edited to correct a speling issue.
Message Edited by llecs on 11-18-2008 09:29 AM
