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  1. #1
    Join Date
    Jul 2011
    Location
    Georgia
    Posts
    1

    Exclamation Which State's Statute of Limitations Applies to Debts

    My question involves collection proceedings in the State of: Georgia

    I opend a major credit card in Illinois prior to getting married. After getting married and relocating to GA. I added my spouse to the card. We went through some financial times due to layoffs and the credit went into collection Nov 2007 on approx 17k worth of debt. When we were in a better financial state we began monthly payments 10/08 and have never missed a payment during the agreement. During this time the account has been with 3 collections agencies with the last one buying the debt as of yesterday 7/12/2011. The strange thing about it is that none of the collection agencies have reported to the credit bureau and the major credit card company continues to report to the bureau. (1) WHY? The credit card company reports on some as collection and on some reports its past due 180 days. A while back I phone the company to find out why are they reporting as being paid on time and they stated that they will continue to report until the debt is paid.

    I spoke to the new collection agency #3 today 7-14-11 to negotiate paying the debt in exchange for the report being removed from our credit report. (I HAVE DONE THIS SUCCESSFULLY BEFORE WITH ANOTHER COLLECTON). The agency said they know the credit card company will not agree to removing the report. They said the credit card company will report it with a ZERO balance and Paid Settled " which is better than other companies that just report PAID SETTLED and post a remaining balance.
    She proceeded to inquire about an amount we can manage to settled. I told the collection agency if they believe the credit card company won't work with me and we have paid approx. 9,700.00 since our arrangements then I'm not will to budge. We will take our money that we were saving to pay them off faster and pay another debt off. Also, we will no longer have any payment arrangements to pay off the debt. She stated that she will note my account. Prior to talking to collection agency #3 I called the credit card company (which is a major bank) and when they pulled my account they noticed I was in recovery and informed me there was a new agency handling the account as of 7/13/2011. I ask credit care co. what was the original balance and they said they don't see that because it's with an agency. (I think that's BULL).
    2. Is the statutue of limitations based on the state I opened the account or the state I currently reside?
    3. What is the SOL for both Illinois (if that applies) or Georgia (if that applies)? I thought I read that SOL for GA was 4 years for credit cards which means Nov 2011 will be my for years so I'm thinking I should wait till then and request that the bureaus remove the debt.
    4. How should I approach this? I'm feeling that they will be calling me back.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Which State's Statute of Limitations Applies to Debts

    Absent a borrowing statute, a venue will normally treat a statute of limitations as procedural law, not substantive law, and thus apply the law of the forum state. Georgia does not appear to have a borrowing statute, and its statute of limitations for credit card debt has been clarified by statute as six years.

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