Someone told me that they can't come after you for credit cards if you stopped paying four years ago. I don't think this is true?
Yup, that's right. Here in California the SOL is four years, but they can haul you into court where you would have the raise the SOL defense. By the way, how's everything down there in Los Angeles? Real sorry about the Lakers not winning.
Trouble is, I don't know how I could find out if I stopped paying 4 yrs ago as I lost work around 2004 and still haven't recovered... Lakers? Not really into basketball. thanks.
YOu can get your credit reports and it would show when DOLA was. YOu might be able to get them for free also. : ) Woofer
There is a potential for ordering your own report (free or not) to wake up an otherwise-somnolent creditor because the creditor may have subscribed to something like "collection triggers", and the confirmation of identity and address that is required (or just the act of the report being "pulled"--be it for purposes of an application or by the consumer on his or her own [even if not a hard pull that could be listed on the report]) may itself be one of the triggers. Interesting question: if a consumer's own pull is a soft pull that can't be disclosed to creditors, can it still serve as a trigger? I mean, the CRA would basically be telling the creditor "something significant happened but we can't tell you what it is" and the creditor would be sitting there thinking "well, there's pretty much only one thing that can happen that they can't tell me about" (the consumer pulling their own report).
I am not sure about Calif law, but I trust greg that the SOL is 4 years in Calif. However, that is pegged to the date of court judgment. Most states provide that the creditor can file a motion before the court to extend the date of judgment, and thus extend the subsequent SOL. So you cant rely solely upon that simple 4 years. If they want your butt, they have intimate knowledge of jusrisdictional law and attorneys that will allow them to pursue it. How much is the debt, and how badly are they PO'd at you? It will take them $1000 min or more to pursue. But if your debt is substantially higher than that, and they decide to pursue, dont rely upon the initial SOL. It is not as simple as the posts may lure you to belive. If you want to roll the dice and count on them not pursuing it, then ignore them. If not, get a lawyer. Forum posts are not what I would rely upon.
Huh? We're talking about the SOL for something that hasn't even gone to court (I believe) ... which means that the clock starts running when the "cause of action" arose (which would be at the time of default, or near enough). Judgments have their own SOLs, and in many states they can be renewed prior to their expiry or even revived for some period after their expiry.
Each state has a separate Statute of Limitations. They can still try to take you to court after the time is up, and they may still get a judgment if you fail to appear in court to bring up the SOL defense. You have to go to show the judge the SOL is up and get the case thrown out. Not all states are 4 years just the lucky ones, some states are up to 5 and 6 years so you might not be out of the woods yet. What State are you from, I can look up your SOL for you. I don't know if I can post a link direct to it since it is another credit repair site. But I can still look it up for you. It is true if they get a judgment then there is a new SOL usually 10 years and sometimes 20 years Like here in Illinois. You need to get a copy of the credit report and look for the last activity date or date of first delinquency. That will be around close to the time of last payment. Your can get a free report at www.annualcreditreport.com You can also call in the credit reporting agencies to get a free report if you had a report pulled in the last 30 days. The system will automatically check and let you know. Experian 888-397-3742 Equifax 800-685-1111 TransUnion 800-916-8800 Experian | Consumer Services www.equifax.com/fcra I use to work for a credit bureau so I have all the numbers memorized. lol Good luck
DOLA will typically be 150 days or so after the last payment that brought the account current (paid as agreed with no arrearages). DOLA will likely omit to account for any subsequent payments that did not meet the minimum, however those may be a factor from a legal standpoint in states where any payment resets the clock. In some states payments don't reset the clock at all, in other states the payment must reach principal or interest (so payments that don't fully cover the existing penalties or other charges on the account won't effect a reset, depending on how the contract reads and/or how the court is willing to apply them).
VERY interesting point. I will say that I have been pulling my reports often and I don't think any pulls triggered a monster awakening. Woofer
