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  1. #1
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    Apr 2015
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    Default When Does the Statute of Limitations Begin for a Credit Card Default

    My question involves collection proceedings in the State of: CA
    my question is from the state of CA. i have 2 credit cards that are over a year past due but the company says the last payment made was this year that's wrong!! and when does the SOL begin after i stopped making the payments?? i know in CA the SOL is 4 years for them to sue me. they also will not cut me a deal to close out the account so i can be done with it ( not that i expect them to ) but they will offer a friend of mine a 50% off deal to close the account and be done with it WTF. so i guess they would rather that i shafted them in a chapter 7 works for me. they keep telling me they sold the debt to a collection agency!! they gave me the number to the collection agency and i spoke to a nice lady i gave her my SSI number and she could not find anything!! i just want to find out where this debt went so that after i file it won't come back to haunt me!!

  2. #2
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    Default Re: When the Statute of Limitations Begins

    the start of the clock is the first day of delinquency. that is simply the first day a payment was due and not made.
    it is not beyond a creditor (scurvy creditors) to make a payment on an account to restart the clock. Not saying that is what happened in your situation but it has happened in others.


    as to whether they sue you or not is up to them.

    if they claim they sold the debt to another party, make sure you get the name and title of the person that made that statement along with the name of the buyer. If they buyer has not contacted you there is not any definite way to determine if they are the owners or maybe even resold the debt unless they plain simply want to give you that information.

  3. #3
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    Apr 2015
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    Default Re: When the Statute of Limitations Begins

    thanks for the info JK
    now that being said they only have 3 years to come after me!! from what i can see on mt accounts is that they have been adding late fees and restarting the clock over again!! i agree that weather they sue me or not is up to them but they already have threaten to get a judgement against me and take me to court and sue me and the rep said it will cost me more money than i already owe. i do have the name of the person that told me they sold off the debt to the collection agency as well as the name of the lady at the collection agency that tells me she can't find nothing on me. the buyer can not contact me because they don't have my new phone number and or address. right now it looks as it's in profit loss write off status for there tax purposes.

  4. #4
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    Default Re: When the Statute of Limitations Begins

    late fees do NOT reset the clock. If it comes down to it and the clock has run out other than for the late fees, you make sure you defend the suit with an SOL defense.
    i agree that weather they sue me or not is up to them but they already have threaten to get a judgement against me and take me to court and sue me and the rep said it will cost me more money than i already owe
    who is threatening to sue you? You said the original creditor said they sold the debt to a CA and you said the CA said they don't know anything about you and your debt so who is threatening to sue?

    and if the debt was sold, threatening to sue you is a violation of the FDCPA and likely California's version of the FDCPA as well. Could you be misunderstanding what the creditor said? Did they say they actually sold the debt or maybe something like; we turned it over to a collection agency?

  5. #5
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    Default Re: When the Statute of Limitations Begins

    i am gonna be defending my suit with an SOL defence. the original had threatened to take me to court and get a judgment and sue me wich would cost me more than i already owed them but that was before i called and tried to get them to cut me a deal just to close the account and be done with it. when i did call em again trying to work out a deal to close the account and be done with it they lady told me that the account has been sold to a collection agency. but on my credit report it just shows as a profit loss write off for there tax purposes. i am just so confused about this

  6. #6
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    Default Re: When the Statute of Limitations Begins

    Ah hang on a sec.

    When did you call to discuss payment terms?

  7. #7
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    Default Re: When the Statute of Limitations Begins

    an SOL defense is not applicable until 4 years after the date of delinquency. You talk like somebody is currently threatening to sue you. When you have people doing that, either they are violating the law or they are about to sue you.
    but on my credit report it just shows as a profit loss write off for there tax purposes.
    they wrote it off. That doesn't mean they sold it or they didn't sell it.

    but if the original creditor is whom is threatening to sue you, then either they are violating the law or they didn't really sell it.

  8. #8
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    Default Re: When the Statute of Limitations Begins

    Quote Quoting Dogmatique
    View Post
    When did you call to discuss payment terms?
    almost a year ago but nothing came out of it other than a screw you
    Quote Quoting jk
    View Post
    they wrote it off. That doesn't mean they sold it or they didn't sell it.

    but if the original creditor is whom is threatening to sue you, then either they are violating the law or they didn't really sell it.
    the original creditor threatened to sue me once wich was just a threat and that was a year ago they have not took actions yet. no one is suing me now but that don't mean they won't try and sue me later on. and since one of the reps threatened to have the police come out and pick me up and put me in jail that's an FDCPA violation!! they just wrote it off for tax purposes is all i think they still own the debt.

  9. #9
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    Default Re: When the Statute of Limitations Begins

    so you can sue on the fdcpa violations, at least the recent violation if you choose to. That is good for $1000 if you prevail.

    other than that, all you can do is wait but I see in your other thread you are intending on filing BK. If so, just go do it and be done with it. Include this debt listing the only known creditor. It will extend to any subsequent purchasers of the debt.

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