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     | Wednesday, February 16, 2000 - 10:08 pm  I searched and searched for the answer on this board. Christine or Barry or anyone who knows, could you please help me out. I know you are quite knowledgable on this subject, and so I have a quick question for you. The statute of limitations in CA is four years. First USA is attempting to collect an old debt. My question is this. When does the four year clock begin? I have heard that it begins from the DLA (date of last activity), but I have also heard that it begins from the original delinqency. I'm not sure which is true, and I'm not even sure what the original delinquency means. Example: customer is current every month up until March. He is then late in April, but then brings the account back to current in May. He then goes delinquent again, and eventually gets a charge off in August. Which month does the 4 year clock start running? Can you clarify this please? I would really appreciate it! Thanks again, Matt mattcapron@att.net
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| | Thursday, February 17, 2000 - 03:55 am Original delinquency date is the date on which the account became delinquent and never again became current. In your example, the original delinquency date would be sometime after May (it was current again in May, but s/he became delinquent some time after that, never became current again and was eventually charged-off.). Charge-off is, essentially, when the creditor writes off the debt as bad, usually around 6 months (180) after it becomes permanently delinquent. The credit reporting clock starts at the original delinquency date or the charge-off date, whichever is later. I'm not certain about the SOL clock start, but my guess would be that it starts with the same dates. Can someone else please clarify? Does it vary by state? rcb Bielak's Consumer Credit Information Center
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| | Thursday, February 17, 2000 - 04:44 am For state by state statue of limitations: http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml. When does the statute of limitations start? You might be asking yourself, "It has been such a long time since my "open account" has had any activity. When does my statute of limitations started ticking." Use your credit report as a reference. Your credit report will tell you the date of last activity for your account. You will have your credit report with the date of last activity and a certified letter stating that the statute of limitations expired. Depending on what state you live in, if you make a partial payment, you could be postponing the statute of limitations' taking effect on your collection account or charge-off. A collector might call you one day and say you waived your rights when you made a deal with the collection agency. Do not take anything a collector tells you for granted. Make them prove it to you, in or out of court. For about half the population, the statute of limitations started ticking the day they made the last payment for their account. What state should I use in figuring out the Statute of Limitations? According to Ron Opher, of www.ron4law.com: In my opinion, the FDCPA applies, and so the only relevant jurisdictions are where the consumer signed the loan application and where the consumer currently lives (bank location is irrelevant). If those states are different, I believe the creditor has the choice of where to sue and can select the state with the longer SOL. There may also be an argument that the contract was signed "under seal" which might lead to a longer Statute of Limitations than an ordinary contract.
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| | Thursday, February 17, 2000 - 06:35 am >Depending on what state you live in, if you make a partial payment, you could be > > > > postponing the statute of limitations' taking effect on your collection account or charge-off. A collector might call you one day and say you waived your rights when you made a deal with the collection agency. Do not take anything a collector tells you for granted. Make them prove it to you, in or out of court. For about half the population, the statute of limitations started ticking the day they made the last payment for their account. ------- Ok, this is my major question regarding this comment. I live in Texas; I have read that Texas is a state where a partial payment does NOT revive the statute of limitations. I have even called a free legal line, but they said they were not allowed to answer statute questions. So here goes: Credit card account, in Texas. Last regular payment: 09/95 Became Deliquent in: 10/95 Charged off: 4/96 Made a partial payment of $25 to stall creditors in 4/96 also Did the statute start in 09/95 or 04/96 Did it expire last September or this april? Crucial Question. thanks, paul
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