Re: Anoter SOL ? - sorry

Posted by Rlee from Ohio (199.35.100.54) on September 11, 2003 at 00:07:56:

In Reply to: Re: Anoter SOL ? - sorry posted by Gromit on September 10, 2003 at 11:28:07:

Yes I think you are right in thinking that cause of action starts the SOL clock. In other words first late payment and then never getting caught up. Your account is a little different in that it says closed, not charged off. FDIC dictates that an account that is 180 days past due much be charged off. In my case my account was charged off, and then they kept it in house for awhile and I made some payments. I think if your account was closed by the creditor. Payments made afterwards are irrelevent unless you and they sigened a new agreement. Did you get regular monthly statements after it was closed showing only a specified payment due, or did your statements say the entire balance was due, even though you were making some agreed over the phone payment amounts on a closed account?
Closed, Charged Off does not seem to me that it should make a difference, if you never got current.

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