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Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2850
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I have received a summons from a collection agency in Va who

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I have received a summons from a collection agency in Va who purchased a charged off payday loan acct from the Bk of Delaware. I don't remember taking out any cash adv online with the Bk of Delaware and have not been out of my state of Va. I closed my checking acct around the time of the date of the payday loan due to unauth. charges on the acct. and am using that as my defense on the Grounds of Defense form along with the fact that I could not have qualified anyway for any type of payday loan without a job, Plus I would I would not seek any loans outside of Va. What else must I do?

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

Depending on how old the debt is, you can claim that it is beyond the statute of limitations

Terry L. :

Any valid defense you have can be raised at this point.

Terry L. :

The statute of limitations on debt in XXXXX XXXXXmits the time you can be sued for a debt.


Oral Contract: 3 years


Written Contract: 5 years


Promissory Note: 6 years


Open-Ended Accounts: 3 years

Terry L. :

So, the case may be tossed if the last payment (or the date of the contract) is passed these dates

Terry L. :

Did you have any other questions

Terry L. :

Let me know, thanks

Terry L. :

Terry

Customer:

Hi Terry L., The Collection agency is saying the date of record with the Bank of Delaware was 12/19/09 for $500 and is now $1159. They purchased the charged off acct. from the Bk of Delaware in Dec. 2010.

Customer:

I will try to use these dates. Thanks a million for you help.

Terry L. and 3 other Bankruptcy Law Specialists are ready to help you