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All of our junior collections agents got it wrong...no surprise.
Please refer to the link below. Ohio is sort of a goofy state, and it's not spelled out very well...you need to search for it. They only define two types of contracts...written and oral. Therefore many folks want to see credit card debts as written (15 year SOL). But when you research it, you see places where it is spelled out. You need to know this, because without this knowledge, you will be standing before the judge with a dumb look on your face, as the collection agent runs all over you.
One of the Yahoo members ran into this very situation last year, and even the judge didn't know the law! Grace, you listening? Wanna share your experience?
Hey! I live in Ohio and I know that the SOL generally applies only when someone is opting to use legal action in order to get you to pay. In that case, it must be filed within 15 years of the delinquency.
If you are just talking about a regular collection (not judgment) on your report, the collection agency can call you forever if they'd like. As long as you owe the money, they have a right to seek it. You breached the contract. Period.
I hope that helps!
On the statute of limitations, it varies by state. In Ohio, it's 15 years for credit cards issued by banks and four years for department store credit cards..The catch is that they go 15 or 4 years from the LAST payment that was made. You can contact the collection agency and work out payments or you can just start sending in what you can afford either way will work to bring the balance down. Some companies can doa settlement for as low as 30% of the balance.
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