I'm a little confused with the following situation I have, and I'm not real sure how to approch it. would like to get some opinions before I make any decisions. I had purshased a car back in 1995. the loan being with first union (OC). The car was also repossessed in 1996.. that tells you how responsible I was. The tradeline on my credit report from first union is showing that the car was repossessed and/or charged off. origianal amount was $5,550.00. Now apparently it went to a collection agency. The CA is showing an open date of 1999 (3 yrs after the car was repossessed ?). then it went to another CA and there open date is showing 1999. Now I live in PA and the SOL on written contracts is 6 years. I real unsure as to when the SOL took effect. Would it be when the contract was origianlly signed with the OC which would of been when the 1st del happened. or does the CA have 6 yrs to collect on the account from the date they are saying that they accuried it 1999 ? kathy
The SOL starts running when the cause of action first arose. In this case, when you missed your first payment and made no further payment or promise to pay. The SOL should be considered in the state that you signed the contract in.
I have collection accounts for medical services rendered in 1995. Would the SOL start maybe 30- 60 days after date of service? Also, do you know if the SOL is limited to where the debt was incurred? In this case California. I now live in Virginia and the SOL is different. Thanks
They can sue in either state, and the SOL of that state would apply. However, if they sue you in the state where you used to live, you have the right to request change of venue, which would place them in the position of having to comply with the SOL in the second state. Motor vehicle laws and repossessions are totally different from other debts - you should find your state's motor vehicle statutes and read them before you start doing things..
Ok.. I understand they can sue in either state which means they can sue me in Virginia. What has confused me is where you say, {However, if they sue you in the state where you used to live, you have the right to request change of venue, which would place them in the position of having to comply with the SOL in the second state} Do you mean they can sue me in the State where I currently live? If so, then I can requst a change of venue. Is it a pretty good chance that I can get the change of venue if requested? Also, does anyone know the answer to the question regarding the medical collection which began in 1995? Thanks a million.
We are back to what the state laws say regarding the start of the SOL. In Virginia it is the date of the cause of action - when did they begin collection efforts, and tell you you were in default? You can look at your Experian report and get an Idea when they decided to report you as late. This advice is for Virginia only. I do not know the laws in all the other states.
this is a GREAT thread..I had virtually the same question.... most of my bad debt is from NYS however I have been in VA for almost 5 years...
Ahhhh.. very interesteing... do you know of any links or threads on where I can do further reading of changing of venues...
Did you know that paid derogs can only stay on your report for 5 years in NY? Don't know if you still must reside there for this to be correct.
Sorry folks I could not respond to this sooner , but I went away for the weekend. Getting back to the origianl question on this post. breeze you mentioned something about different policies for repossessions. would you have any idea were I could find that information. Also could someone help me with how to proceed with this situation ? kathy
