Sold Debt

[kennych]

What is the name of your state? TX
Getting ready to file bk, I was concerned with all my debt being sold to other collections agencies, do I need to keep track of all the of these collection agenices? example citibank I believe have sold my account several times?

 

[HomeGuru]

What is the name of your state? TX
Getting ready to file bk, I was concerned with all my debt being sold to other collections agencies, do I need to keep track of all the of these collection agenices? example citibank I believe have sold my account several times?

**A: list them all even if they are redundant or duplicates.

 

[bigun]

The SOL on cc debt in Tx. is 4 years. If it's been 4 years or close to 4 years and you've not been sued, maybe rethink the bk.

 

[kennych]

It's only been a 1 yr since my last payment.

 

[rke55]

Where can you find out about statute of limitations for Ohio??

 

[Ladynred]

4 years for credit cards, 15 for written contracts.

http://www.carreonandassociates.com/collectionlaws.htm

 

[rke55]

What is the timeframe for that 4 years though?? From your last payment, chargeoff,...?

 

[Ladynred]

It starts with your 1st delinquency and never again got the account current. So, the 1st time you went 30 days late and never paid again would start the SOL clock.

 

[rke55]

Thanks. Another question, I live in Ohio and was wondering about garnishment. I believe that it's up to 25%. Now what if you have multiple accounts who want to garnish wages. They each can't take 25%. How does that work??

 

[HomeGuru]

Where can you find out about statute of limitations for Ohio??

**A: a hijacked thread.

 

[Ladynred]

As long as none of it is for child support, then the MAX that can be taken out of your check thru garnishment is 25% of your disposable income. If there are multiple garnishments, and one is already taking 25%, the rest have to wait their turn until the 1st garnishment order is over with.