Capital One and SOL

Discussion in 'Credit Talk' started by GeorgiaGal, Oct 11, 2010.

  1. GeorgiaGal

    GeorgiaGal New Member

    I've seen discussions about using the Virginia SOL from the cardmember agreements instead of the state you reside. I know of the Pincus case in Florida that was able to use the Virginia SOL and won, but are there any other cases that one could cite?

    Also, would love any help with Georgia's laws of sol and credit card debt.

    I had to default on a Capital One card in 2006. They knew I had been in an accident and at one time, I paid them a large amount when I found out that I was permanently disabled. I told them I would continue to pay monthly payments for a few more months, but that my money would then be gone. I managed to pay about 8 more payments and then had to default. I thought everything was understood, but apparently it was not. I recently discovered that they have held onto that account and applied it looks like, every penalty and fee they could find. A debt that I thought was about $5,000 - they are showing on my credit report as over $25,000. I have not received any monthly statements from them in years, so I had no idea!

    I thought that with Georgia sol of 4 years, that I would be alright - but, now have found this:

    Georgia 4 years* 9-3-25 State law**

    *In January 2008, the Georgia Court of Appeals ruled (Case No. A07A2338) the statute of limitations on an unpaid credit card bill was 6 years. The ruling doesn't change state law, but sets a precedent that future suits may cite.

    So . . . looks like I'm up a creek. Then I was reading where others are saying that "if" the agreement has the Virginia ruling, that it should be applied. Can anyone help me with thoughts of any way to do this in Georgia or do I have to be stuck with the Georgia sol? Also, looks like since I defaulted "before" the Court of Appeals ruled to change it to 6 years, that they would let the older defaults still carry the 4 year sol . . . I know - I'm reaching!
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Yea - I've seen the same information regarding the AmEx case in GA that resulted in a decision stating that the SOL was 6 years. If I were you, I would lean towards the 6-year SOL going forward. However, I'm not a lawyer, so you might want to talk to a good consumer lawyer if you're still unsure.
  3. GeorgiaGal

    GeorgiaGal New Member

    Thank you for the response. I too am afraid that all Georgia credit cards will lean toward the 6 year sol, but still - if the agreement states that Virginia law will govern the cardmember agreement - how can people use that sol?
  4. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    I know what you mean. This is kind of a confusing situation because it is possible that the VA SOL would apply. From what I understand, Cap One is infamous for this, but they'll often place wording in the agreement that allows them to choose your state's SOL if it's longer.

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