Results 1 to 3 of 3
  1. #1

    Default Going to Court Over an Old Debt

    My question involves collection proceedings in the State of: Illinois

    The "loan" was sold to me as overdraft protection from Old National Bank back in 1996... If I overdrafted my checking account, regardless of the amount, ONB would automatically put $100 in the checking account... Well it got out of hand to the tune of $1000.00 over the year the amount is now at $4000.00 from interest, which I imagine is why they are now coming after it now.. I received the summons the other day.. This note has been sold to about 3 different collection agencies... ONB charged it off in 2005 as I believe that is when I defaulted on it.... With the summons was attached only a reaffirmation for the debt from my bankruptcy in 1997.. They do not have the original contract... now, 2 years ago I stupidly acknowledged the loan when the note was held by a different collection agency..

    What I'm wondering is do they have any proof that
    a) I acknowledged the debt a couple of years ago..
    b) That I defaulted in 2005 and not 2000, putting this issue past the SOL.

    If they had this information would it have been sent to me before, or with, the summons?

    I would like to try to call the CA and negotiate paying off the original debt of $1000 cash.. but then I'm acknowledging the loan, then the SOL starts over... ARRRGH what to do??

  2. #2
    Join Date
    Feb 2010
    Location
    CT & IL
    Posts
    5,273

    Default Re: Going to Court Over an Old Debt

    SOL argument is no relevant to the basic fact that you owe the money. Its a special or affirmative defense. This is one, that even given that the complaint's claims are 100% correct then the finding should still be made in favor of the defendant because the plaintiff or law does not allow recovery under some theory.

    If you can state facts supporting the SOL argument you should include the special or affirmative defense together with your answer to the complaint under a separate heading.

    If you paid any $$ the SOL starts at last date of payment. Acknowledging the claim means little to SOL defense. If your new negotiated payment plan tolls the SOL is a question I don't know the answer to because it would require a review of the document...

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Going to Court Over an Old Debt

    (a) You'll have to find that out for yourself within the context of the litigation. We can't investigate that for you.

    (b) Again, that's not something we can investigate for you. It's not clear from your narrative when you defaulted. The fact that the debt was written off in 2005 does not necessarily mean that the default didn't occur earlier.

    Without more facts I'm not going to speculate as to whether your "acknowledgment" of the debt two years ago constituted a novation.

    The statute of limitations is a defense you raise when you file your answer and affirmative defenses. If you do not properly raise that defense, it will be deemed waived.

    They only have to file a summons and complaint sufficient to meet the legal standard for filing a valid complaint. You are free to try to negotiate a settlement with the law firm, if that's what you want to do, making clear that you're not acknowledging the validity of the claim but are merely making an offer of settlement to close out the issue.

    1. Sponsored Links
       

Similar Threads

  1. Debt Collectors: Going to Court but Want to Settle Debt Before Court Date
    By VinceD10 in forum Debts and Collections
    Replies: 1
    Last Post: 06-26-2008, 05:51 PM
  2. Debt Collectors: Question About Court And Summons Due To Debt
    By Virgo83 in forum Debts and Collections
    Replies: 1
    Last Post: 05-19-2008, 11:50 AM
  3. Debt Collectors: Summoned To Court Over An Old Debt
    By onsite in forum Debts and Collections
    Replies: 2
    Last Post: 09-05-2007, 12:00 PM
  4. Collection and Enforcement: How to find out if there's a court judgment on a debt
    By bklm1234 in forum Civil Procedure
    Replies: 1
    Last Post: 05-01-2006, 12:28 PM
  5. Court Appearances for Debt Judgment
    By BACI in forum Civil Procedure
    Replies: 1
    Last Post: 08-30-2005, 04:07 PM
 
 
Sponsored Links

Legal Help, Information and Resources