Well I was a newbie and did a newbie mistake. I was contacted by Calvary Investment Group today and they informed me of an old debt I had. The last payment on the debt was (they said) Feb. 1994. I had no recollection of this debt and they said that the debt was in my name and my social security so they are certain it's my debt. Anyways to make a long story short they talked me into paying a settlement amount of $800. I agreed because this wasn't a lot of money and I basically just want them out of my hair. Then afterward, I found this website and found out about SoL so I went to my bank and did a stop payment on the check I gave them. Does this action reset my SoL clock? I made a check over the phone payment. Then 2 hours later I stop payment on the check. They didn't really get a payment so can I still use the SoL defense or did the clock reset and now I'll have to deal with it as a new debt. Keep in mind that no money was applied to the account. Thanks for any info on the matter. PS my state statute states that:The statute begins to run from the date when the breach occurred for contracts and from the time of the last item in the account on the debtor's side for actions on accounts. The debt is not on my credit report and they said the total amount of the debt is around 2000$. They also said it was 1300$ when the debt came to them.
1*Anyways to make a long story short they talked me into paying a settlement amount of $800. 2*I agreed because this wasn't a lot of money and I basically just want them out of my hair. ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <> 1*Why you don't talk to A CA on the phone. 2*You can't just throw money at a debt and make the consequences go away. Doing so is a good way get lots of unpleasant surprise tangled up in your hair as you have just found out.
in some states actions such as paying resets the statute of limitations (makes the debt new again) ie. you can't use the statute of limitation defense. my problem is an actual payment wasn't made...ie tho i did make a payment over the phone the actual payment didn't go thru (the check was cancelled). so did the act of making a payment reset the SoL or does money have to be applied to the account for the SoL to be reset.
Re: Re: SoL and Stupid Mistake Help... What state are you in? Could you cut and paste the text of the law you referenced above? [ instead of paraphrasing ]
Re: Re: SoL and Stupid Mistake Help... the state im in is missouri. and i can't find the actual wording in the law itself. i read thru the whole chapter and couldn't find it. i got that paraphrase off of another site. http://www.fair-debt-collection.com/SOL-by-State.html#26
Re: Re: SoL and Stupid Mistake Help... I reviewed the Statute and Limitation section on the Missouri State site and found the following: Reading this against what you've told us, I do not believe you've reset the SOL clock. I read it as saying the cause of action can only accrue on a open and current account. It is the cause of action that changes the account from being open and current TO open and past-due and later closed. Looking at 516.320 & 516.40, it looks like the only way to change the SOL is to make a new or continuing agreement in writing. If you had may the payment, they would have to reduce your balance, but it would not have reset the SOL clock. ***and this is all my own opinion*** ***read the other sections as there are other ways to have the SOL tolled - concealing your whereabouts, military service in time of war [ seems unfair ], etc. Something MAY apply to you.***
Re: Re: SoL and Stupid Mistake Help... ahhh thats great. it's the answer i've been looking for i'm so relieved. now i can tell them they are SoL ... sh*t out of luck i think some how they got an old debt of mine...one that ive settled in the past with another CA and are trying to see if they can get more money out of it. such low down tactics. thanks jm for the answer. peace....
Re: Re: SoL and Stupid Mistake Help... it was a credit card debt and i think they said the last payment was feb. 1994. but i ll just have to wait and see when they send me the varification
Re: Re: SoL and Stupid Mistake Help... Don't turn blue looking for verification from these bottom feeders. All they have is a data list that they obtained from their garbage picking. Go to my website, linked below, Opt Out to prevent any more scum scammers from harrassing you, send them the SOL letter. You DID NOT restart any SOL, all you ALMOST did was waste $$$ down a rathole. By the way, you had better close your account and re-open it at a different bank,unless your present bank puts a PERMANENT fraud alert on your account. Otherwise, in a week or Month these scum CA's will hit it.
