I have searched, read, and re-read a lot of posts online and on this site. I am still confused with tolling laws and SOL. Let me give you my scenario and see what the experts have to say. I moved from FL to NC in August 2007. I went delinquent on a few accounts and have collections and charge-offs from that period. Most have Date of First Delinquency as 5/2007. Now, I am going to have to move back to FL this summer. NC has 3 year SOL for these items and FL has 5 years. My question is, am I risking being sued if I move back in May 2012 because I will be back in FL right at the 5 year mark for these collections? Or, will I be able to use the NC SOL because I was there for so long. I am confused and concerned about moving back now.
My understanding is that tolling is allowed in FL, which means you could potentially still be sued if you moved back.
Although legally, tolling (pausing) of the SOL is allowed, the question is how often do creditors check for this and remember to sue once the person returns to the state? My guess would be almost never, because most creditors and JDB's have a policy of reselling the debt after a certain amount of time has passed an no payments have been made. Of course, this is not legal advice, and your experience may vary from what I have suggested.
Wow, so even though I have been away from FL for 5 years, when I move back it will be like I have only been away for a few months. They will still have 5 years in which they can file suit and I won't be able to use the SOL defense? I am assuming there has to more to it, but you guys know better than me. I agree that most likely they won't bother since the debt is so old and not really huge balances.
Yes, that would appear to be the case. Keep in mind that some credit issuers include a "choice of law" provision in their contracts too.
