AboutCreditwrench Expertise Debt Collections law, Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), federal law, how to properly answer court summons for collection cases, how to prepare federal cases against debt collectors, how to deal with debt collection phone calls.
Experience I've been an active consumer advocate for more than 40 years and have helped hundreds of people win cases against debt collectors as well as helping them defeat demands for summary judgment lodged against them by banks, debt collectors and defeat mortgage foreclosures and keep their homes.
Education/Credentials Paralegal courses for the most part. I have been teaching people how to deal with judgments, mortgage foreclosures and other such problems both on and off the internet for many, many years. I am a Richard Cornforth information provider ever since 2000 and worked with many other organizations and causes since 1980. I was Oklahoma State Chairman for the nationwide drive to defeat the Constitutional Convention which was proposed by various factions within our federal government such as the Council of State Governments and the National Organization of State Governors who were working hard to organize a Constitutional Convention to be held in 1995 for the purpose of rewriting our American Constitution to be more acceptable to the United Nations. I worked with Senator Charles Duke of Colorado and Senator Don Rogers of California and many others across the nation to keep them from getting the number of delegate states required to lawfully hold a Con-Con and we were successful. I have worked with many other legislative issues in Oklahoma and have always been very successful.
Question One of the experts here (Michael Brotherton), stated that "The SOl is based on the Date of Last Activity (DLA) which is the date of last payment or charge against the account. In your case it would be 10/02.", which was the date of last payment.
My question is this: Wouldn't the DLA begin upon charge off of the account? Either way, is there any case-law to base the answer on. Thank you very much for your answer.
Answer The answer really depends on state law. Most states say something to the effect that the SOL begins when the creditor knew or should have known that the account was in default. So, depending on how the state law is worded that can leave it open to some discussion. The general rule of thumb seems to be that it begins when you failed to make your last payment to the creditor when it fell due. If you are talking about the SOL for reporting to credit bureaus then charge off date is what applies. That normally occurs 180 days after the delinquency.
