Quote Quoting Mr. Knowitall
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I don't care a whit about the 120 days. You need to concern yourself with the statute of limitations. You have provided us with no information for a statute of limitations analysis, beyond indicating that your default was more than four years ago but less than five years ago.
Ok, as for SOL analysis, do you mean for me to explain why I think my debt falls under 4 year SOL and not the 5 year SOL? If so:

Many, if not most, of these transactions were likely on-line purchases or bill paying via online payments...There was a case in Florida (I'll go look it up if needed) that ended with the courts finding that the defendant's CC was not a written contract, but an oral one since there wasn't any sort of signed paper contract (like a car loan would have). He won and the case was dismissed as the debt was 4 years old.

At first it may seem that that case should send anyone into court and argue 4 years over 5 for a CC. The only problem is, is that the CC company was willing to go all out in court against the guy. So, in other words, there is a risk that one would really REALLY need to have their ish together in the event that raising the SOL defense just pissed off the CC company.

This is why I feel my debt is time barred overall...Does a lawsuit have an effect such that the years stop counting once a lawsuit is filed? In other words, my debt was about a year overdue when this lawsuit was filed. I then get sued, which stops the clock for 120 days. If not prosecuted within the 120 days, does the clock keep rolling? Or is it stopped forever? So, could my 4 year time period actually be 1 year due to the lawsuit that went nowhere never being dismissed or persued?