SOL for NJ?

[acesfull]

What is the name of your state? NJ

Hi All,
I am new here, this site is great so much information.

My question.
What is the SOL for the state of NJ for credit card debt?

If a CA purchases a debt before the SOL expires does the account get reaged?

How long does a summary judgement stay on your credit file?

If a debtor never contracted with the 3rd party, third party being collection agency,does this relieve the debtor from the debt?

How affective are validation request?

Thanks everyone in advance.

acesfull

[Debt Guy]

Q. What is the SOL for the state of NJ for credit card debt?

A. 6 years from the date of first default.

Q. If a CA purchases a debt before the SOL expires does the account get reaged?

A. No.

Q. How long does a summary judgement stay on your credit file?

A. A really long time. Judgments in most states are good for 10 years and can be renewed. A judgment will also allow the creditor to levy bank accounts and garnish wages and seize non-exempt assets. A judgment is a public record and as I recall public records remain on your credit report for at least 10 years. Even after the judgment falls off your credit report, you could still be garnished if the creditor renews the judgment.

Q. If a debtor never contracted with the 3rd party, third party being collection agency,does this relieve the debtor from the debt?

A. No. Where on earth would you get an idea like that?

Q. How affective are validation request?

A. Effective to accomplish what? A validation request can be very effective for the purpose for which it was intended by law. It is not intended as a tool to allow debtors to dodge legitimate debts. It can buy some time but in the end, you will be in court answering questions from the judge. But, go ahead and send the validation request. Just don't expect much in response. You really need to download and read the FDCPA in order to understand how a validation request really works and what it is intended to accomplish.