I have a credit card that has come back from the depths of hell. I thought this thing was paid off. I originally used it in 90-92, that was it, the last payment was in 2000 when I thought I had paid it off. Now it is with Sherman Aquisitions and they are wanting their money. I do owe it, so will pay it, but as of right now, should it still be on my credit? Thanks! BTW I'm in CA
Hi Missi, We need to know when it defaulted. ???? It is a violation to attempt to collect a POST SOL debt in CA. This may be open to further interpretation by a local court. But at least we have some precedent. .
Well you may still be within the SOL then. Tell ya what, go here: http://community-2.webtv.net/Y-chat/WhyChatsCredit/ ... and find California. Then look up the "state statute of Limitations" and tell us what it says for "open accounts". ???
Thank you, this is what it isays "Statue of Limitations(in years) Open Acct: Reduced to Writing:4 Open Acct: No Writing 2" Not quite sure where I stand. Does this mean they can only try and collect by mail - since we are in the fourth year after the actual default date? Thanks!
Re: Re: What is the SOL on a credit card. A CC is an open account. If one runs up a balance and it charges off, often the co. will seek a new agreement, (with your sig) for you to pay. I believe that is an open account "reduced to writing". It doesn't mean they can only collect via writing. So an open account NOT reduced to writing is 2 years. I think things are lookin good for ya so far Missi. Lets wait tho, for a California expert to come along and confirm what I think about Open Accounts. Let's hope it's 2 years not 4. Experts? ???
