credit card deliquency statute of limitations

[gsmith55]

HI,

I defaulted on a Providian credit card in January 2006when I lived in California. My last payment was Jan. 2006. I tried to work out a deal with them and they would not help. I even sent them a registered letter trying to work out an agreement that I could afford. I could not pay what they wanted and they had hike the interest to 32%. I recently moved to Colorado(September 2009). Does statute of limitations begin when the creditor sends to collection agency or does it begin after you make the last payment? In which state will the statute of limitations prevail.

Thanks so much.

 

[jharris352]

The SOL begins on the date of last activity. So on the day you last used it or last paid it. The SOL will be in the state that you are being sued in, so the state that you live.

 

[tpajet]

Actually, since it's gone to collections, the SOL would be from the date of last contact with them, so the date of the registered letter you sent.

 

[jharris352]

Tapajet, I would respectfully disagree with you. I have about 15 years of experience in credit. DLA is the date SOL goes off of. You can talk to them all you want, you can send letters, but if you pay anything the DLA is updated.

 

[mightymoose]

It is most certainly the date of last activity on the account.

 

[tpajet]

Oops - you are right - I'm thinking along the lines of if a payment had been sent to collections, not just a letter - I stand corrected.