When Does CA SOL Start?

[davew128]

What is the name of your state (only U.S. law)? California

Person doesn't pay his credit card for four months and the bank then closes the account to new charges. Six months later a payment is made to the bank on the account but before the account is charged off. Subsequently the charged off account is sold to another collection agency. Does the SOL in California begin when the account closes to new charges (closed book), when it first goes delinquent or when that payment six months later is made?

I have looked online trying to determine the answer and had conflicting results. I've seen case law stating it begins once the book is closed on the account regardless of subsequent payment but other sources stating that payment afterwards resets the SOL constituting a new promise to pay.

I know which one I'd LIKE it to be, but someone versed in this area weighing in would be appreciated.

 

[racer72]

The SOL started the day you breached your contract. The definition of breach per the state statutes is failure to live up to one's contractual obligations. What the creditor defines as breached will be spelled out in the credit card agreement. The SOL clock is also reset if any payments are made on the account.