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07-22-2009, 06:43 AM
| | Junior Member | | Join Date: Jul 2009
Posts: 5
| | | Open End Accounts
What is the name of your state (only U.S. law)? Texas
My question or concern is on the open end accounts. I'm aware of the SOL of 4 years for Texas, I've been in debt settlement council since 2001. Should a creditor call and I acknowledge the SOL, what can I expect and what are my rights? |
07-22-2009, 11:12 AM
| | Member | | Join Date: Feb 2006
Posts: 730
| | | If you are current and paying on debts, the SOL clock is at zero. |
07-22-2009, 12:32 PM
| | Junior Member | | Join Date: Jul 2009
Posts: 5
| | Quote:
Originally Posted by Associate920  What is the name of your state (only U.S. law)? Texas
My question or concern is on the open end accounts. I'm aware of the SOL of 4 years for Texas, I've been in debt settlement council since 2001. Should a creditor call and I acknowledge the SOL, what can I expect and what are my rights? | If you tell the collector that you know the SOL is 4 years, then he may continue to bother you, or he may go away forever, or he may sue you. Telling him the SOL gives you no special rights.
If you are sued, then you can use the SOL as a defense. If done properly, then the case should be dismissed. |
07-22-2009, 03:48 PM
| | Junior Member | | Join Date: Jul 2009
Posts: 5
| | | SOL Defense
What is the proper use of the SOL defense? Or, where can I find this information? I've located a letter to send to collectors should I be contacted but want to make sure before a situation arrives and I attempt to use this SOL defense. I'm currently unemployed, we've never owned a home and vehicle is in my husband's name. |
07-22-2009, 07:17 PM
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07-23-2009, 03:40 PM
| | Member | | Join Date: Feb 2006
Posts: 730
| | Quote:
Originally Posted by Associate920 What is the proper use of the SOL defense? Or, where can I find this information? I've located a letter to send to collectors should I be contacted but want to make sure before a situation arrives and I attempt to use this SOL defense. I'm currently unemployed, we've never owned a home and vehicle is in my husband's name. | In summary: The SOL defense does not apply to any collection activity other than suing you in court. If you are sued and if the filing date of the suit is past the SOL time frame, then that fact is a valid defense. But you must respond to the suit and argue the SOL defense for it to be considered. The creditor or its agents can still try to collect the debt by means outside of the court, forever. |
07-26-2009, 11:00 PM
| | Junior Member | | Join Date: Jul 2009
Posts: 5
| | | Open Ended Accounts
Thank all of you so much for your responses! The information has helped and I can see with the research I've already done, that I'm on the right track. Again, thanks to all of you! | |
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