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Why Chat, SOL question
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Posted by Weisus
(204.39.211.214) on April 22, 2003 at 17:19:00:
Why Chat,
I am about to send your copy of, NOTICE TO COLLECTION AGENCY LAWS RULES AND CODES RE;SOL. (Just to refresh your memory, Asset Acceptance now owns this account and I am from Michigan) I have a few more questions if you have a few more minutes. I have contacted Discover card and they told me that the date of chargeoff was 11/95, they also told me that the date of last activity was 5/95: which of these dates do I use in this section; “Records indicate that this date on the subject account #___________ with (creditor name) is __ ___ ____.” Also, on the statement that Asset sends me they show two account #’s, one is on the statement portion that I return with my payments and the other is located underneath the section that says RE: Discover; which should I use? Also, in this section it asks: “Under my State of ________Code #__________ the subject account has a _________ year limit for filing any legal action for collection.” Obviously, I list the state as Mich. and the year limit as 6 yrs., but which code # do I use, I would imagine it is one of the following, but I am unsure of which:
“MICHIGAN 6 Years Oral and Written Contracts; §600.5807
Sec. 5807. No person may bring or maintain any action to recover damages or sums due for breach of contract, or to enforce the specific performance of any contract unless, after the claim first accrued to himself or to someone through whom he claims, he commences the action within the periods of time prescribed by this section.
(8) The period of limitations is 6 years for all other actions to recover damages or sums due for breach of contract.
Contracts:
6 years from the date the cause of action accrues. MCLA 600.5807(8). The cause of action accrues when the wrong is done. MCLA 600.5827. For installment contracts, a cause of action accrues as each installment falls due. MCLA 600.5836
Sales (UCC) 4 Years
440.2725. Statute of limitations in contracts for sale, contractual reduction; accrual, tolling Sec. 2725.” Do I just put §600.5807 as the code? Finally, do I dare sign this, or just simply print my name?
I am uncertain if Asset still has this on my credit report, sadly I’ve never checked it before, but thanks to all of you in this forum, as of today I have requested a copy from each of the big three (Experian, Equifax and TransUnion) and will find out soon. So, I may still need some help in the future. I feel like I owe something for all of the valuable time and information that you all have shared, is there anything that I can do to repay your generosities? Thank you again, and again...Weisus
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