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  1. #1
    Join Date
    Oct 2006
    Location
    Florida
    Posts
    8

    Default Re: Is bankruptcy a valid option for me

    all my debts last activities run from 10/00 through 12/02 with one
    stand out in 01/03. does the SOL defense apply to me in this case,
    its not like I planned it this way. what is a good strategy I can adopt
    to start taking one on at a time? how should I initially contact them
    as to resolve these old debts? should I hire a lawyer?

    any ideas will be much appreciated...

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Is bankruptcy a valid option for me

    I would estimate that the five year statute of limitations for written contracts may apply, although it is always appropriate to verify limitations periods with a local lawyer who is familiar with both those periods and exceptions to them, and who can apply them to the full facts of the case. Sometimes a different statute than expected applies, or the creditor has grounds to ask that the court find that the limitations period was "tolled" such that a later suit can be brought. There are some who suggest that a four year limitations period would apply for Florida credit card debt; but I haven't seen that backed up by anything other than lay opinion, so until there is verification it makes sense to assume that the longer period applies.

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