which statue of limitations should i go by

[wannertant]

What is the name of your state?california

I opened several credit cards in the state of indiana in the year 2000 in 2002 i moved to california, and have not paid any of them. How long do they have to come after me for a judgemnt? Since they havent come after me yet is that an indication that they probably wont? I really want to buy a house here shortly any advice?

 

[Veronica1228]

What is the name of your state?california

I opened several credit cards in the state of indiana in the year 2000 in 2002 i moved to california, and have not paid any of them. How long do they have to come after me for a judgemnt? Since they havent come after me yet is that an indication that they probably wont? I really want to buy a house here shortly any advice?

The SOL in Indiana for Credit Cards is 6 years, so yes they can still come after you for the debt. The fact that they haven't yet contacted you means nothing. They may decide to try and find you soon as you get closer to the SOL.

 

[wannertant]

thank you for your quick reply. So even though my residence is california i should go by indiana law? They have tried to contact me and the cards have been charged off. I am wondering if i should file bk or just wait it out and see what happens. I really want to buy a house and am afraid of the repercussions of what can happen if i should.

 

[Veronica1228]

thank you for your quick reply. So even though my residence is california i should go by indiana law? They have tried to contact me and the cards have been charged off. I am wondering if i should file bk or just wait it out and see what happens. I really want to buy a house and am afraid of the repercussions of what can happen if i should.

The debt was incurred in Indiana, so it goes by their SOL. If they have tried to contact you pay attention to what they are saying and open all of your mail because they may decide to seek a judgement against you, and you want to be aware of it if they do.

Filing for BK is a serious decision and many feel it is only worth it if your debts are $10,000 or more. Can you work out a payment plan with the creditors?

 

[wannertant]

the total debt is about 30,000 it has been three years and the phone calls are starting to subside. I cant afford to pay them. how often do creditors not obtain judments againts debtors? also i have been told that if i do pay on any of them it will reset the clock for my credit report.

 

[Veronica1228]

the total debt is about 30,000 it has been three years and the phone calls are starting to subside. I cant afford to pay them. how often do creditors not obtain judments againts debtors? also i have been told that if i do pay on any of them it will reset the clock for my credit report.

Always assume that they will seek a judgement. You can't gamble on them forgetting about your debt.

Paying on them will reset the SOL, but it will not reset the length of time it is on your CR. Legally, it can only be reported for 7 1/2 years.

 

[wannertant]

thank you very much you have been very helpful

 

[Veronica1228]

thank you very much you have been very helpful

You're welcome and good luck to you.

If you decide to file bankruptcy or just want more information be sure to post back. Ladynred can help you with that part of it.

 

[Happy Trails]

I will add form Indiana statutes:

IC 34-11-4-1
Tolling of time while nonresident
Sec. 1. The time during which the defendant is a nonresident of the state is not computed in any of the periods of limitation except during such time as the defendant by law maintains in Indiana an agent for service of process or other person who, under the laws of Indiana, may be served with process as agent for the defendant.
As added by P.L.1-1998, SEC.6.

 

[Ladynred]

Actually, per the FDCPA, if you are sued for this debt they must do so in the state where you entered into the agreement or the state where you live NOW.
Chances are pretty good that if they sue you, it will be where you can be located and served.. that will most likely be CA. In that case, the CA laws would apply and I'd at least start by using the CA SOL (if it happens after the 4 years are up).

While they CAN use IN SOL in their suit, I don't think it happens all that much.