Re: SOL on credit card debts

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Posted by Ben on March 10, 2001 at 12:36:42:

In Reply to: SOL on credit card debts posted by Joe on January 09, 2001 at 04:03:43:

: : 1. Can you guide me to a legal sources where I could read about the SOL concerning my state in case a law suit was filed by my creditors after the expiration of the Statute of limitation so I can use those notes as a solid proof of SOL expiration.

You mentioned you live in Oklahoma, you can research state statutes at www.oscn.net. I do not know how you get “proof of SOL expiration” Perhaps you may write the debtor, dispute the validity of the debt and state you believe the applicable statute of limitations has expired. They would then be required to send you written verification, as to whether of not this verification would give any indication of the date of last activity, I don’t know. But if it did, you’d have something in writing, at least.

Let us assume no promises or payments have been made since the account was charged off. The million dollar question is what is the date of last activity as it applies to the SOL on law suits (not credit bureau reporting). Would this be the date you made your last payment OR the date you made your last charge? Or perhaps it is the last month the credit card company charged the account a late fee? Late fees may continue many months (years) after your last payment. Perhaps it is the date they charged off the account (an accounting term).

: : 4. Are you sure the 3 years SOL in the state of Oklahoma is the correct time limit, and how can I defend a law suit if it was brought up after that date. Is filing in the court a dismiss case enough. Since I don't have any written proves for the court on SOL, how can I convince them that the SOL is expired and my case must be dismissed.

The 3 year SOL given for the state of Oklahoma is definitely INCORRECT as the only 3 year SOL in Oklahoma is for oral contracts. Apparently all these sites (like this one) are just copying these dates from each other without doing independent verification.

Also, I believe Sarah is correct in that the CREDIT AGREEMENT you originally signed sets the jurisdiction for applicable laws and I’ve had one attorney from Oklahoma tell me as much!

Note, this CREDIT AGREEMENT might also be known as an APPLICATION FOR CREDIT. Here again, perhaps you’ll get a copy of the original credit agreement if you request written verification.

Sorry I couldn’t help more, good luck.

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: : : 1. Can you guide me to a legal sources where I could read about the SOL concerning my state in case a law suit was filed by my creditors after the expiration of the Statute of limitation so I can use those notes as a solid proof of SOL expiration. : You mentioned you live in Oklahoma, you can research state statutes at www.oscn.net. I do not know how you get “proof of SOL expiration” Perhaps you may write the debtor, dispute the validity of the debt and state you believe the applicable statute of limitations has expired. They would then be required to send you written verification, as to whether of not this verification would give any indication of the date of last activity, I don’t know. But if it did, you’d have something in writing, at least. : Let us assume no promises or payments have been made since the account was charged off. The million dollar question is what is the date of last activity as it applies to the SOL on law suits (not credit bureau reporting). Would this be the date you made your last payment OR the date you made your last charge? Or perhaps it is the last month the credit card company charged the account a late fee? Late fees may continue many months (years) after your last payment. Perhaps it is the date they charged off the account (an accounting term). : : : 4. Are you sure the 3 years SOL in the state of Oklahoma is the correct time limit, and how can I defend a law suit if it was brought up after that date. Is filing in the court a dismiss case enough. Since I don't have any written proves for the court on SOL, how can I convince them that the SOL is expired and my case must be dismissed. : The 3 year SOL given for the state of Oklahoma is definitely INCORRECT as the only 3 year SOL in Oklahoma is for oral contracts. Apparently all these sites (like this one) are just copying these dates from each other without doing independent verification. : Also, I believe Sarah is correct in that the CREDIT AGREEMENT you originally signed sets the jurisdiction for applicable laws and I’ve had one attorney from Oklahoma tell me as much! : Note, this CREDIT AGREEMENT might also be known as an APPLICATION FOR CREDIT. Here again, perhaps you’ll get a copy of the original credit agreement if you request written verification. : Sorry I couldn’t help more, good luck.

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