I have an account that's been charged off. The DOFD is in 2003, and this was in a state with an SOL that would not have kicked in yet. I moved to a state with a 6-year SOL in 2004. The reporting period has passed, and the original tradeline stopped being listed this year. According to my current state's laws, this is a time-barred debt. A new creditor has purchased the account, and I want to send a C&D letter. However, I'm worried that they'll invoke the state where I was living when the account was opened (a state with a MUCH longer SOL) and try to sue me. Where do I stand, having been a legal resident of a 6-year SOL state for the past six years?
This is always a difficult one. Some of the more legal-minded members here might have some input, but I think you'll really need to talk to an experienced lawyer familiar with collection laws in your current state to get a reliable answer. My understanding has always been that many states have a "borrowing statute" that basically says the SOL can be borrowed from the other state. I'm not sure what state you're in, but I would definitely look into that.
