Re: arbitration hearing
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Posted by Why Chat (209.240.205.61) on January 31, 2004 at 17:53:20:
In Reply to: arbitration hearing posted by lgr on January 31, 2004 at 09:52:17:
I do not know when in 2000 the account was charged off, however,if you check your credit reports you should find out. The starting date of the 4 year Pa. SOL is the first delinquency (late payment) that preceded the chargeoff.This would make te chargeoff date about 6 months AFTER the SOL start date in mos cases. I suggest 2 things, first you MUST refuse arbitration, in writing, CRRR, if you do not, you will have a hard time later on. Next, check your credit reports - look for the account with the original creditor, find the earliest 30 day late before chargeoff.For instance if it shows as charged off 02/2000, it should show 150 days late 01/2000 120 days late 12/1999- 90 days 11/1999 60 days 10/1999 30 days 9/1999. In this example your start of SOL is 09/1999 and any suit filed after 09/2003 would be time-barred. If you are beyond SOL, then besides the refusal of arbitration letter, you need to ALSO send the SOL letter.
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