Statute of Limitations

[ubiquitous72]

What is the name of your state? Missouri

Hey all,

I was just served papers today to appear in court for unpaid credit card debt from Bank of America through CACV of Colorado

The date on the last bill I received was August 29th 2001 it is alos stated on that bill that my account had been charged off.
I have not made a payment since before that date. The collection agency sent me a letter a couple months ago and it was the first time an agency has contacted me aboubt the debt.

I didn't make an effort to pay it cause they want a thousand dollars more that I actually owed. I figured they would offer me a settlement but they never did.

Could someone please explain to me about the Statute of Limitation.
I read that in Missouri it is 5 years for an open account.
Since the account was written off on August 29th of 2001 and I was served papers today on October 16th 2006 Can I use the SOL or not.

Thanks,
Don

[Ladynred]

Since the account was written off on August 29th of 2001 and I was served papers today on October 16th 2006 Can I use the SOL or not.

Maybe. The date the account was written off is NOT relevent to the start of the SOL. The SOL starts with the first delinquency.. or 30 days after the last payment. You need to find something to prove when that last payment was. Have you looked at your credit reports ?? Do you have old checking records ??

If they charged-off the account in August 2001, it went delinquent somewhere around February 2001 and the SOL ran out as of March of this year. IF they FILED he lawsuit AFTER March 2001, then you can use the SOL. If, by some chance, they FILED the lawsuit before March, then the SOL becomes a moot point.

[ubiquitous72]

Thank you for responding to my post.


I do have a copy of my credit report but the only date on my report is when the account was opened under Bank of America.
Then I see the date that it was opned for the collection Agency is 10/1/06

I do not have banking records that go back that far, however There is a copy of the last statement telling me that it was charged off and the closing date on that bill was 08/03/01.
I also have a statement showing when it was sold off to a collection agency, the date it was sold off was 09/08/2001.

I will not have a lawyer with me unfortunetly. What documents should I bring with me to court.

[megabux]

Originally Posted by ubiquitous72

What is the name of your state? Missouri

Hey all,

I was just served papers today to appear in court for unpaid credit card debt from Bank of America through CACV of Colorado

The date on the last bill I received was August 29th 2001 it is alos stated on that bill that my account had been charged off.
I have not made a payment since before that date. The collection agency sent me a letter a couple months ago and it was the first time an agency has contacted me aboubt the debt.

I didn't make an effort to pay it cause they want a thousand dollars more that I actually owed. I figured they would offer me a settlement but they never did.

Could someone please explain to me about the Statute of Limitation.
I read that in Missouri it is 5 years for an open account.
Since the account was written off on August 29th of 2001 and I was served papers today on October 16th 2006 Can I use the SOL or not.

Thanks,
Don

Hey Don,

I'm not sure about Missouri but, last time I checked, there was no SOL on karma!

NEXT DEADBEAT!

Tim in Oregon