Re: I wonder if the Statute of Limitation has expired?

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Comments:
: Of course the lawyers want you to file bankruptcy. : If you did that, then they could charge you a lot : more fees than if they simply said, "don't worry : about it," or "wait and see if you actually get : sued first." : 1. The statute of limitations table listed in our : *Credit Problems* section is the best information : that we have. If you are really concerned, I : suggest contacting a civil court in your area, or : you can try a law library if there is one near you. : The statute of limitations starts running when : you become delinquent on the debt, and never again : get caught up. However, note that, in some cases, : the SOL can apparantly be re-set if the debtor : makes a partial payment or a written promise to pay. : 2. It is the type of account that is important for : the SOL, so, as I understand it, yes, the balance : transfer checks are just part of the general : credit card debts. : 3. I suspect that the *bounced* balance transfer : check might be considered similar to a regular check : drawn on a deposit account. Perhaps ask your : local disctrict attorney's office. : 4. Creditors actually *can* file a lawsuit on a : debt that is "out of statute." In that event, you : would need to file a properly formatted response : with the court, pointing out the expired statute : of limitations, and requesting to have the suit : dismissed, which should be easily approved. : Other than that, the creditor's recourse would : consist of regular collection letters and calls, : along with continuing to report the debts on your : credit reports until the expiration of the time : limits set by the Fair Debt Collection Practices : Act (see our *Credit Problems* section for an : explaination of bad credit time limits.) : The original creditor might also sell the debt to : a third-party collection agency, which would *not* : have any more recourse than the original creditor : did, and would still be held to the FDCPA. : 5. Moving to another state might slow the collectors : down a bit, depending on just how careful and : low-profile you are. : 6. If you don't want your creditors to have any : information on you, then you would have to avoid : getting or even applying for any new credit, or : having your credit files pulled for any other : reason. This is because, when a prospective : creditor, landlord, or employer checks your credit, : the identification informatio (e.g. address) that : you gave them will be added to your credit bureau : files, which can then be seen by old creditors and : collectors. : 7. The main danger of criminal type issues would : be if you had defrauded the creditors in some way, : like lying on applications, intentionally borrowing : money without planning to repay it, etc. I don't : think they would wait anywhere near this long if : they were going to consider filing criminal charges. : Please note that I am *not* an attorney, and my : comments should *not* be construed as or relied : upon as, legal advice. : Good Luck. : --CardReport.Com Webmaster

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