If you have a charged off CC from 97 and has been sold to a CA when does the clock start for the SOL??? the year in which it was charged off or when the CA buys it????
no it shouldn't start over when sent to CA- but it starts over if you make a payment (in Ohio at least).
have not made any payments... First Premier Charged off in 11/97... A CA called and tried to collect.. I said dont call anymore and he said okay well just sue you for the money...
I have been trying to figure out the SOL for credit card accounts in Ohio... some sites say 6 years, some 4 years, some 15 years. I looked it up in Ohio laws and it looks like 15 to me. Do you know for sure what it is?
It is 4 years, here are the Ohio statutes that (rather murkily) spellS it out. Loan agreement" does not include a promise, promissory note, agreement, undertaking, or other document or commitment relating to a credit card, a charge card, a revolving budget agreement subject to section 1317.11 of the Revised Code, an open-end loan agreement subject to section 1321.16 or 1321.58 of the Revised Code, or an open-end credit agreement subject to section 1109.18 of the Revised Code.  § 2305.09 Four years; certain torts. Text of Statute An action for any of the following causes shall be brought within four years after the cause thereof accrued: (D) For an injury to the rights of the plaintiff not arising on contract nor enumerated in sections 2305.10 to 2305.12, 2305.14 and 1304.35 of the Revised Code.
If you are in a "cause of action" tort State, it is from the first delinquency that led to any default or charge off.(same as the FCRA definition) If you are in a "discovery" tort State, it is from the last payment on the account.
Since every site gives a different sol for Ohio, I am trying not to take this information as point of fact. I want to find the exact Ohio code that deals with credit card debt sol, but I am having no luck at all. This is what I have found with regard to Ohio statutes: § 2305.06 Contract in writing. Text of Statute Except as provided in sections 126.301 [126.30.1] and 1302.98 of the Revised Code, an action upon a specialty or an agreement, contract, or promise in writing shall be brought within fifteen years after the cause thereof accrued. § 2305.07 Contracts not in writing; statutory liabilities generally. Text of Statute Except as provided in sections 126.301 [126.30.1] and 1302.98 of the Revised Code, an action upon a contract not in writing, express or implied, or upon a liability created by statute other than a forfeiture or penalty, shall be brought within six years after the cause thereof accrued. § 2305.08 Partial payment. Text of Statute If payment has been made upon any demand founded on a contract, or a written acknowledgment thereof, or a promise to pay it has been made and signed by the party to be charged, an action may be brought thereon within the time limited by sections 2305.06 and 2305.07 of the Revised Code, after such payment, acknowledgment, or promise. § 2305.09 Four years; certain torts. Text of Statute D) For an injury to the rights of the plaintiff not arising on contract nor enumerated in sections 2305.10 to 2305.12, 2305.14 and 1304.35 of the Revised Code. § 1302.98 (UCC 2-725) Statute of limitations in contracts for sale. Text of Statute (A) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it. So far that is all I can find... anyone know for certain??? You can go here to search, maybe someone else will have better luck... http://onlinedocs.andersonpublishin...ON OF ACTIONS&GRStructure1=2305&GRStructure2=
Why chat- we must have been posting at the same time..lol. I just don't understand WHY the language has to be so "murky"... wish they'd just spell it out!! I am afraid, given the current language, it may be up to a judge to "interpret" the law however they see it which may spell trouble for those facing judgements.
The Ohio law is only somewhat "murkier" than most. The problem is that for reasons that are probably more political than anything else, Ohio has little true consumer credit protection. They have a lot of "protect the lawyer's fees" statutes in every area. The CA's in Ohio have taken full advantage of the confusion. The only sites that correctly show Ohio's cc SOL are the ones for CA's !!
