credit card statue of limitations in california?

I recently read that the SOL in CA is now 7 years. That just means they can no longer take you to court for it. BUT if you have made any attempt to pay or admitted that you owe them within those 7 years and they can prove it the SOL starts all over again. They can still attempt to collect when the SOL runs out, they just can't take you to court.

The Statute of Limitations (SOL), the timeframe to bring lawsuit, varies from state to state. Check here: http://www.bcsalliance.com/y_debt_sol.html. California looks like 4 years to me. Typically the SOL starts from the date of last activity or last payment. Making a payment can restart the SOL.

The reporting period is something completely different. Folks often confuse and merge the SOL and the reporting period. Derogatory items age off your credit report 7-1/2 years from the date of first deficiency (default). This is per the FCRA and NOTHING restarts that clock.

If the debt is beyond the SOL and the reporting period, this doesn't mean the collector can't try to collect. It just means that if he sues, you can use the SOL as an affirmative defense and he would lose the case. The collector can also not report the debt after the reporting period expires.

If the collector continues to bother you, just send him a certified, return receipt letter telling him to cease all contact as the debt is beyond the SOL. They have to stop but might sell off the debt to another zombie debt collector and you may have to send a cease letter to the new collector.

Okay so then both SOLs will have expired in December, credit reporting is 7 years, and 4 years for judgment in CA. So the only thing they could do is still call about you paying it. Sell it to a debt buyer. If they do take you to court, you better show up and raise the defense that SOL has run out. I would highly doubt they would, but it could be possible. They could get in trouble if they do that because that would be against the FDCPA (Fair Debt Collection Practices Act).

If you do intend to pay it, you could definitely settle the account probably 50% or less. Or, just let it go off your credit report.

Be sure not to admit to anything or to agree to make payments. Every time they call... hang up immediately.

They can not sue you nor can they bring on any criminal charges against you. They are desperately trying to get you to admit to this and make a payment. If you do that... they will have you on the hook again.

While you still technically owe this money they can no longer sue you in court to get a judgement and therefore have no way to enforce the debt legally.

Ignore them, get caller I.D. and do not answer any of their calls.

Google this: Fair Debt Collection Practices Act

Read it. This will help you understand your rights and how to deal with collection agencies.

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California Statutes of Limitation

Written agreements: 4 years, calculated from the date of breach.

Oral agreements: 2 years.

The statute of limitation is stopped only if the debtor makes a payment on the account after the expiration of the applicable limitations period.

As you can see... if they talk you into making any type of payment... it can start all over again.