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  #1  
Old 11-20-2005, 11:42 PM
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question about charged off acount...?

What is the name of your state?florida i have 2 old credit cards that were charged off back in early 2002 and the last payments i made on them were over 4 years ago. a collection agency is now taking me to court. i just need some advice on what to do next. will the SOL work on this? any other information is greatly appreciated....thank you
  #2  
Old 11-20-2005, 11:56 PM
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Location: Connecticut
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Quote:
Originally Posted by islander300zx
What is the name of your state?florida i have 2 old credit cards that were charged off back in early 2002 and the last payments i made on them were over 4 years ago. a collection agency is now taking me to court. i just need some advice on what to do next. will the SOL work on this? any other information is greatly appreciated....thank you
An SOL defense probably won't work for you because you're in Florida. In most states, credit cards are considered to be Open Accounts per Truth in Lending. However, Florida judges have been ruling that credit cards are in fact Written Contracts which makes the SOL five years. This means that these debts are still valid.

Your only options at this point are to pay or file for bankruptcy.
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  #3  
Old 11-21-2005, 12:19 AM
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thanx for the info. okay lets say they get a judgement and go after my bank account. can they mess with my kids college savings account? my name is not on any of there accounts....appreciate it
  #4  
Old 11-21-2005, 12:23 AM
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Quote:
Originally Posted by islander300zx
thanx for the info. okay lets say they get a judgement and go after my bank account. can they mess with my kids college savings account? my name is not on any of there accounts....appreciate it
They can only levy/garnish accounts that you are the sole or joint owner on. If you name is not listed as the owner of those college savings account then they CANNOT be touched at all.
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  #5  
Old 11-21-2005, 12:30 AM
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thanx again for your help. will update later on what happens.
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