? concerning SOL in NC vs what atty told me

[Raisenthebar]

Spoke with an atty today about the possibility of being served a civil summons on an outstanding debt from a Credit Card Co. and the rights I had as far as SOL were concerned. He said that in the state of NC, SOL would not protect me from the collectors because they could refer to my original contract where I signed my name and if it had the word (Seal) after it, (I don't remember if it did or not,,,,got the card back in 1991), that would give them another 10 yrs to try and collect. I have read alot on these forums and have never heard of this. Anyone ever hear of this???? FYI,,they haven't received a payment in 3 + yrs so SOL should be in effect.

 

[Ohiogal]

Spoke with an atty today about the possibility of being served a civil summons on an outstanding debt from a Credit Card Co. and the rights I had as far as SOL were concerned. He said that in the state of NC, SOL would not protect me from the collectors because they could refer to my original contract where I signed my name and if it had the word (Seal) after it, (I don't remember if it did or not,,,,got the card back in 1991), that would give them another 10 yrs to try and collect. I have read alot on these forums and have never heard of this. Anyone ever hear of this???? FYI,,they haven't received a payment in 3 + yrs so SOL should be in effect.

Nope. You can't get out of debts by just not paying.

 

[Raisenthebar]

Nope. You can't get out of debts by just not paying.

OK! So why are there so many posts on here that refer back to when they had sent there last payment and what there particular states statute of limitations are. If SOL has nothing to do with it,,,,,,why is it even brought up?? Buy what you are saying, no matter what, you will have no outs in the matter and will end up paying the full amount? Am I understanding this correctly? Not a crook here,,,was envolved in a work related accident that put me in the situation I am in. Being self-employed,,I had no insurance to help with expenses. Something had to give. As stated earlier, I have yet to receive any type of summons so there has been no judgement in either direction.

 

[Ladynred]

OK, first of all, I've never seen a credit card agreement that's done 'under seal' and certainly not one that old. Secondly, contracts 'under seal' are most often done in REAL ESTATE transactions.

It's extremely unlikely that your old CC agreement was done that way, so I'd go with the 3 year SOL and tell any collectors to go pound sand (in writing of course), the debt is time-barred per NC statutes.