Re: SOL and paying off debt

Posted by Linda on November 03, 2001 at 22:22:44:

In Reply to: Re: SOL and paying off debt posted by MR ALAN on November 03, 2001 at 22:07:23:

I have heard it (here on this board). I honestly don't know, and I can't see how it could be proved. The states where I have read the actualy statutes say the debt must be acknowledged in writing.

But I can imagine situations where, say, a person makes arrangements to pay over the phone and receives a letter confirming the terms of the agreement, which might hold up under the law, depending on the state, the judge, or other things that could be involved.

This stuff is pretty complex. Once a person goes just so far while talking to a creditor, I don't give advice. In those situations, I don't know the correct advice to give, except to get a lawyer, LOL. I know enough to know when to shut up and let a professional do the advising.

How the law is interpreted over time in different courts (precedent) is as important as the actual wording of the law.

Many aspects of these credit situations are complicated legal matters, and I'm not going to speculate when somebody is likely to actually take my advice. Often there is a lot at stake, and they really, really need a lawyer.

Linda

Follow Ups:

Post a Followup