Hello, I have just recently been contacted by mail from a CA about an old debt from 2004. Currently I am living in Oregon and the SOL here is 6 years. Before i respond back to the CA i would like to find out if the SOL applies to me. Is there a way for me to find out if i am truly out of the SOL (credit report, ect)?
You'll have to take a close look at your credit card agreement to determine when the SOL started. Generally it starts running as soon as you break your agreement with the credit issuer and fail to make payment. Did you start missing payments in early 2004?
About June...ish 2004 is when i stared missing payments. I think i made one payment in December 2004 (need to call the CC to verify that). Did some research on Oregon law and found this: 12.090 Accounts; accrual of cause of action. In an action to recover a balance due upon an account, the cause of action shall be deemed to have accrued from the time of the last charge or payment proved in the account. (date of last payment) Interest, financing and carrying charges shall not be deemed such a charge. [Amended by 1973 c.204 §1]
I'm not a lawyer and I can't say I'm familiar with how things work in OR, but I do know that in some states a partial payment can reset the SOL. It sounds like that might be the case in OR.
