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  1. #1
    Join Date
    Mar 2011
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    13

    Default Can FDCPA Settlement Restart the Statute of Limitations on Debt

    My question involves collection proceedings in the State of: California

    A case is being settled for FDCPA violations against a debt collector. The plaintiff attorney has presented a "settlement" which includes statements and details about the alleged debt.

    Question is, will signing the settlement by the plaintiff, which contains statements about the full amount of the alleged debt, reset the timer on the statute of limitations of the debt?

  2. #2
    Join Date
    Sep 2005
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    Default Re: Can FDCPA Settlement Restart the Statute of Limitations on Debt

    As I cannot review the document, I cannot tell you if it would constitute a reaffirmation or novation.

  3. #3
    Join Date
    Mar 2011
    Posts
    13

    Default Re: Can FDCPA Settlement Restart the Statute of Limitations on Debt

    This is the part in question, with names changed:


    RECITALS

    A. Plaintiff had a credit card with PIRATE BANK, original creditor NONENDORSED
    CONSUMER FINANCE PREAPPROVED REMAIL, original account
    #00000001, such account opened on XX/XX/XXXX. Plaintiff quit paying the
    minimum monthly payment amount on the credit card, and PIRATE BANK “charged
    off” the outstanding balance due, and transferred the account to VULTURE INC. VULTURE INC then retained the law office of MR. HARASSING COLLECTOR to collect the unpaid balance due, which at the time of transfer amounted to $0.01.

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