Ohio SOL on credit card debt
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Posted by Glider524 (159.53.238.246) on December 10, 2003 at 14:50:17:
I recently got married and have discovered that my wife had 2 credit card accounts which were charged-off back in Sept. and Dec. of 1999. We got a "This is an attempt to.." blah blah collection letter from a CA a few days ago about a third card from that same time period. Apparently that one is still being actively collected on. So long as no payments have been made, why is it that they didn't just charge it off like 2 years ago in late-2001? Is there a legal requirement to charge off accounts off after that measure of time? Will it continue to hurt her credit any worse? I think I'm reading on this site is that the SOL on credit card debts is either
A) 7 years from first delinquency date if it -was not- charged off in 2 years from first delinquency, or
B) 7 years from the charge-off date if the charge off -was- done within two years of first delinquency.
Correct? I'm also reading that 6 years is actually the time period for most states. I've checked the following site and other similar ones, and all I see for the SOR period on Ohio credit card debts is "-" for the number of years. This is puzzling:
http://www.ihatedebt.com/StatuteofLimitations.html So long as the SOL in Ohio is something around 6 years like most other states, I'm very inclined to not pay this debt and let the SOL expire on it since the other two cards were from then anyway. What does she have to gain by paying the one when the other two are there, and it's just another 2 or 3 years to go on it anyway? Just before we married, I bought a house--solely on my good credit. I'm assuming that quick-claiming half the house to her would be a bad idea since a lien could be attempted then. True? If we go to move, is it true that most banks require the mortgage application be in both of our names, her credit included with mine? There's no other way her past credit can affect mine is there?
Thanks!
-Glider524
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