Re: SOL question - Why Chat said
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Posted by JKelly
(151.197.178.133) on July 23, 2004 at 16:42:06:
In Reply to: SOL question posted by Archerjoelson on July 23, 2004 at 16:31:47:
The statues for CONSUMERS under the FTC rules state that a creditor must file for an action EITHER in the Stte where the account was appplied for, OR in the State of current residence. The State where the suit is FILED determines the SOL. If a lawsuit is filed in a different State from the current reisdent State, the debtor must be served with notice of the claim, and can file for a change of venue to heir own State. If a default judgment is obtained in a different State, it can not be enforced against a debtor in their resident State, unless the judgment is "perfected" (certified by that State as being correct) and "domesticated"(refiled as a foreign judgment in the resident State) It is true, however, in SOME cases, where the State where the account was signed for has a SHOETER SOL than the resident State, it MAY be possible to defend on the basis of the SHORTER SOL -- however, this depends on when and in what State the account defaulted and on the "borrowing statue"(if any) of the resident State.
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