Re: Why Chat.......is SoL last payment?
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Posted by Why Chat (209.240.198.61) on October 29, 2002 at 14:24:34:
In Reply to: Why Chat.......is SoL last payment? posted by NH on October 29, 2002 at 12:51:44:
Virginia is one of the States that starts it's SOL from the last payment or charge on an active account. This date may be earlier or later than the first delinquency prior to charge off, which s the starting date in most States and for CRA's. If, for instance, you paid on an account in say- Jan. 1999 and never paid again, your Va SOL would start Jan. while your CRA SOL would be March, (1st past due Month), if however you skipped a payment in Feb. and made a PURCHASE OR PAYMENT in March,and continued to make payments and charges INCLUDING past due or late fees WITHOUT "catching up" on your missed payment, and then stopped paying -in say April-- then your Va. SOL would start in April while your CRA SOL start would remain in March. Here is the link to the Va. statutes from my website.
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