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Much of my debt originated while I lived in one state. Then I recently moved to another state ...oh maybe 3 years ago... the new states SOL is half of my old states. Is there any hard and fast rule about which one would apply?
Yeah I would like to know too.
so according to this article...
http://www.bestcredit.com/which-states-debt-collection-statutes-of-limitation-apply/
it looks like he's saying the courts ruled that the SOL from the state that the creditor is headquartered in.... INTERESTING
@Anonymous wrote:so according to this article...
http://www.bestcredit.com/which-states-debt-collection-statutes-of-limitation-apply/
it looks like he's saying the courts ruled that the SOL from the state that the creditor is headquartered in.... INTERESTING
Lawyer here . It will depend on the contract. Creditor HQ might matter, but location at time of sale -- creditor, you, and contract -- might matter more. Do NOT depend on the shorter SOL of a state you just moved to.
They can only sue you in the state you are residing in from my experience. I moved from New Jersey to pennsylvania,I was sued about a year into living in Pa for an auto loan chargeoff.sol is 4 years for Pa, 6 years for nj. Since I no longer lived in nj case dismissed with prejudice due to sol!!!! Also 3 years ago is a long time lol. Oh I'm sorry in addition, I was sued in pennsylvania court not new jersey.
@Anonymous wrote:
Soooo...how do you get a copy of this contract without having it reset the sol?
Getting a copy of the contract does not restart the SOL... The DoFD of the OC sets the clock ticking for both states SOL and CRTP once it goes to CO is set. SOL can be reset in some states with a new promise to pay in others not even that resets it. Judges dont like allowing other states SOLs in their courtrooms so it most likely would be either the state the creditor is incorporated in or your current states SOL.. Some states have something called borrowing statutes these allow you to use the SOL of your previous state if they allow it. You should goto your states laws website and research their SOL laws.
And remember, though it's likely that you can be SUED only in a state where you live, the courts of that state are not required to apply the law of that state to all parts of the case. It's common in complex cases for a New York court, say, to hear a case where the substance is governed by British law. Whether the state applies its own SOL, or another state's, depends upon the judge, the case law of your state, and circumstances.