Re: Why Chat: Here's one for ya...

Posted by Why Chat (12.77.147.195) on July 31, 2002 at 08:13:45:

In Reply to: Re: Why Chat: Here's one for ya... posted by Fenrir on July 31, 2002 at 05:58:39:

No, just making payments on the plan does not restart the SOL for either reporting or being sued,UNLESS (for being sued) you have SIGNED a contract to RE-AGE your own debt by "bringing it up to date". Only one State, as far as I know (Arkansas) says that a "payment" on a defaulted contract changes the "cause of action" date, and that probably wouldn't apply to "open-ended" accounts.Most States have a specific statute that says any "new" cause of action date must be evidenced by a signed contract for that purpose.And the FCRA protects you on the reporting end.

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