i have this problem i hope you can help me. i have received a notice in the mail on an old credit from 1991. when i was married to my husband we started this credit togehter, but we divorce and he was ordered to pay all debts that came out of this marriage.well he did not and now they are after me.so now they sent me a notice about a month ago to pay 1238.00 and the other day they sent me another notice that said i could pay 534.00 well i don't have that all at once either. i looked up the sol in arkansas and it said there was a 5 year limit on signed accounts. and too what i need to know is if they have a lawsuit on me does this mean that the sol is excluded
Yes if they have a lawsuit the statute of limitations is different. Furthermore, judgements are renewable even after they have expired. You need to find out what the statute is for lawsuits in the state from which it was granted (arkansas I assume). Also you need to know if they can attach your wages or assets. Do NOT pay ANYTHING. If the statute is over you can tell them to quit contacting you. If it's not, then its another story.
Here's some info you need: STATE: ARKANSAS INTEREST RATE Legal: 6% or 5 points above the Fed. discount rate Judgment: Contract rate or 10% per annum whichever is greater STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 3 Written Contract: 5 (partial payment stops the statute from running) Sale of Goods: (UCC-2) - 4 Domestic Judgment: 10 - Renewable Foreign Judgment: 10 BAD CHECK LAWS (CIVIL PENALTY) Twice amount of check - prior to double charge - can start out with $15 charge per NSF check after 30 days. GENERAL GARNISHMENT EXEMPTIONS $500 head of family; $200 single. Includes personal property except clothing. COLLECTION AGENCY BOND & LICENSE Bond: $5000 to $25000 License: Yes Fee: $125 - $5 each employee
harra, They can still file a lawsuit against you but your defense will be the SOL. This SOL will be in which state you signed or got into the contract... if whychat reads this post he will be better able to inform you...
the sol in arkansas is 10 years on a lawsuit, they do not have a lawsuit toward me yet they have just contact me
If this account hasn't been paid on since 1991 you are clear. Just ignore them, if they call tell them the SOL is up and that they better not contact you anymore. They're just bottom feeders trying to get you to pay something they will go away the moment they realize you understand the SOL.
If they have not filed a lawsuit against you then you are fine. If they do file then show up at court and just say it is was the SOL. You automatically win. I had a CA try and collection on a debt from 8 years ago. They tried many tricks to get me to pay it. I faxed them a cease and desist letter and I also reminded them that the SOL is up and they are wasting their time and money on a debt they cannot legally collect on. I also told them I am familiar with consumer law and if they waste their money taking me to court I will just point out that the SOL is up and they lose. I have never heard from them again. To be douby safe, fax the letter and send it certified so they have to sign for it. If they call again they are busted and we can help you out. Also, you need to know the last date of activity(charged off,closed,ect) and let us know which collection agency this is and where they are located so we can try and help you.
northland group inc. is the collection agency and the last charge was way back when around 1991-1993. my ex-husband and i file chapter 13 bankrupt at that time and then divorce and so he was to take care of the payments.and he did not . the company that we owed went bankrupt about two years ago and they turned it over to another company and they turned it over to the collection and that swho has been contacting me.i hope you can help me figure out something
