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Collections Law/statute of limitations
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Question
I have lived in Az my whole life and am moving to New York. I have alot of credit card debt. Which states statute of limitations will apply to me? Also, I have heard debt settlement is more difficult to do in New York with certain creditors. Is this true?
Hi James:
In general, the state you live in is the state the statute of limitations (SOL) applies in. There are exceptions including if the creditor started legal action before you moved, if you maintain any type of presence in your old state, or if you entered into any type of contract or agreement.
Remember, in both your states the statute of limitation can only be restarted if you enter into a NEW agreement. So any payment arrangement or settlement will restart the SOL.
I am not aware or heard of anything that debt settlement is more difficult in New York. This really depends on each individual collection agency and their willingness to deal.
Good luck, I hope this helps. If you have collection accounts on your credit reports, you are a prime candidate for credit repair. We have deleted literally thousands of derogatory accounts from credit reports. See proof at WWW.FICOFIGHTER.COM/PROOF.HTM.
Regan
We Fight, Your CREDIT Wins -- WWW.FICOFIGHTER.COM
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Answers by Expert:
Regan Shinski
Expertise
I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit credit reporting.
Experience
Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports.
Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry.
I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA).
I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage.
In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.
Education/Credentials
BA University of Minnesota
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