Re: i did NOT say making a payment started a new SOL

Posted by Why Chat (209.240.205.61) on May 26, 2004 at 22:17:34:

In Reply to: i did NOT say making a payment started a new SOL posted by catballou on May 26, 2004 at 21:56:47:

The "system" computerguy espouses, (he always SAYS he "knows somebody" who used it successfully) is CRAP.

There is such a legal method that CAN be used successfully, however it is NOT as easy or simpleminded as computerguy's version.

It is TRUE that IF a new contract is legally formed to consolidate an old debt it WILL start the SOL again.For instance, if you enter into a settlement agreement with a CA, and it comprises of an offer and acceptance in writing, and the agreement does NOT specify the disposition of the unpaid balance, since a CA cannot legally isse a 1099, the balance can be sold to another CA, and THAT balance has a new starting date, dating from the settlement agreement.

If you send a letter to a CA, and in it you offer to pay $25.00 a month for 2 years to pay off a debt, and if the CA responds in writing,signed, that he accepts your offer, THEN if you pay $25.00 with a restrictive endorsment on the back of the check, stating it is in payment of the accepted offer, it is a LEGAL CONTRACT.

You cannot have a legal contract without BOTH parties agreeing to the terms, in writing.

If "computerguy" decided to go into a store to buy a $5,000 plasma TV, and gave the clerk a check for $500., with a restrictive endorsement on the back saying it was in full payment for the TV, and the store cashed the check, do you think he could get delivery???

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