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  1. #1
    Join Date
    Mar 2012
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    13

    Exclamation When Are Debts and Judgments Time Barred

    My question involves collection proceedings in the State of: New York

    Im dealing with the unscrupulous firm of Pressler & Pressler. They have in the past been allowed to sieze an account that was only used for my unemployment checks to come into to pay a gym membership, $1200...this is highly illegal, and they did it anyway. I am now being threatened to have a judgement entered against me for a debt that was charged off by my creditor, Citibank many years ago, and I believe its well beyond the statute of limitations (its beyond 7 years, because the charge off doesnt even turn up on my credit report for all three bureaus) for them to be able to use the law to force me to pay, which I cant do anyway.

    My questions are these:

    1) Where do I call to get the exact charge off date/last date of payment to the account? (without calling Pressler & Pressler, they will lie)
    2) When does the statue clock start ticking? the charge off date? the last date of payment? which is obviously well before the charge off.
    3) If the only place I can get the charge off date is Pressler and Pressler and they lie and have a crooked judge signing things, how do I combat that?
    4) What "restarts" the statute of limitations clock so that they can continue to get judgements against people? reselling the debt? because Pressler & Pressler keeps starting shell companies to "sell debt to" it seems. They function as at least 4 entities at last count.
    4) How are they not being prosecuted under RICO? if they arent a criminal enterprise, I dont know what is.

    Help

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: When Are Debts and Judgments Time Barred

    A charge-off does not in any way impede a creditor from collecting the debt at a later date. It's an accounting entry for tax purposes, not forgiveness of the debt.

    The cause of action accrues at the time of the last transaction on the account. Depending upon the full facts that is most likely either the last date a payment was made or the subsequent date upon which you failed to make a scheduled payment.

  3. #3
    Join Date
    Mar 2012
    Posts
    13

    Default Re: When Are Debts and Judgments Time Barred

    Quote Quoting Mr. Knowitall
    View Post
    A charge-off does not in any way impede a creditor from collecting the debt at a later date. It's an accounting entry for tax purposes, not forgiveness of the debt.

    The cause of action accrues at the time of the last transaction on the account. Depending upon the full facts that is most likely either the last date a payment was made or the subsequent date upon which you failed to make a scheduled payment.
    ...oh Im aware that its not "forgiveness of the debt"...but they cant pursue me in court to collect after the SOL has run out correct? This was charged off in '97 and the last payment on the account was in '98. Well beyond the 6 year SOL in New York. Correct? they can be charged for FDCPA violations cant they?

  4. #4
    Join Date
    Apr 2009
    Location
    Somewhere near Canada
    Posts
    35,894

    Default Re: When Are Debts and Judgments Time Barred

    Have you moved out of State?

  5. #5
    Join Date
    Mar 2012
    Posts
    13

    Default Re: When Are Debts and Judgments Time Barred

    Why? would it matter?

  6. #6
    Join Date
    Sep 2005
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    Behind a Desk
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    98,846

    Default Re: When Are Debts and Judgments Time Barred

    Absence from the state could potentially toll the statute of limitations.

  7. #7
    Join Date
    Apr 2009
    Location
    Somewhere near Canada
    Posts
    35,894

    Default Re: When Are Debts and Judgments Time Barred

    Yes, it might, if NY allows the SOL to be tolled when the debtor leaves the state.

  8. #8
    Join Date
    Mar 2012
    Posts
    13

    Default Re: When Are Debts and Judgments Time Barred

    Ive never left New York...so what does that mean?...its been 14 years.....theres no way they could use the courts after 14 years.

  9. #9
    Join Date
    Sep 2010
    Location
    Florida
    Posts
    153

    Default Re: When Are Debts and Judgments Time Barred

    To clarify also you can be sued anytime. Your affirmative defense is the SOL if they sue but they can and will sue if they want. Your experian or equifax report from the bureau themselves, not a third party, will show you the date of first default if you need to know when SOL starts.

  10. #10
    Join Date
    Mar 2012
    Posts
    13

    Default Re: When Are Debts and Judgments Time Barred

    I have spoken to Citibank, the original creditor. This is was charged off in '97. Its so old, that there is no record of it from any bureau. I've already called them, and run my 3 credit report. Its not anywhere. The only way I was able to find the charge off date, was to call the original creditor. They say I have a zero balance/charged off. They can sue if they want to, but the SOL says they cant use the courts to force payment after six years. So why should they try? the law states that they cant. correct? are you an atty?

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