Location, Location, Location...

[danimaltex]

Hi all -
Just a general question about location and moving. How does that affect SOL and such?
Ex. If i lived in state A and took out debt, something happened to report negative, i know that state A's rules apply (such as judgments and SOL)

But, what if after things are reported, I move to state B, do that states rules now apply? (Mainly on SOL)?

Thanks!
D

[Hal Jordan]

That's tough to answer because some state's put the SOL on hold and the time freezes on the belief that you may return. You'll have to check with your state law to find out if moving out of state stops the time on statute of limitations. If it doesn't than the new state's law that you are living in become the standard for the SOL on your debt. Florida is exceptionally mucky at this.

I have read where some people have moved from a state with a 5 yr SOL to a state with 10 and they get sued by the debt collector all over again. Or they move away at 3 years and move back 3 years later (6 years from date of first missed payment) and the SOL is still applicable because the SOL clock stopped at three years and restarted upon re-entry into the original state.

Not the answer you were looking for because it doesn't really answer your question directly but it does give you a basis on where to look.

good luck.