Legal Question in Credit and Debt Law in New Jersey

statute of limitations NJ and FL

Back in 1992, my ex and I financed a vehicle in both our names in Florida. It was paid off with the exception of an amount which the finance company put on it for the insurance lapsing ($1401). According to my credit reports it was charged off to bad debt in 3/ 97 by the original financer. The add'l amount appears on a credit report under a credit agency as being opened in 2002 as a collections and says '' this acct is scheduled to continue on record until 9/2003. no payments were made and I have no recollection of speaking with anyone. I have recieved a summons in NJ where I reside from the court. A lawyer is representing another collection Co. and the Demand amount is $1557.86 + fees totalling 1,642. Does the Statute of limitations begin with the charge off date?? I know in NJ for written contracts the SOL is 6 yrs and Florida is 5 yrs so they will go with the longest. My most recent credit report from experian shows nothing pertaining to this matter.

Thank you for your help


Asked on 3/02/07, 10:59 pm

2 Answers from Attorneys
John Corbett Corbett Law Firm LLC

Re: statute of limitations NJ and FL

There is a lot of that going around. Debt collectors, some of them very aggressive, are buying old debt and hoping that the debtor won't be smart enough to know whether or not it is collectable. There is also a lot of shuffling of debt between the credit reporting agencies who claim that they can keep the debt on the report based on the time that it has been reported to them.

Exercise your right under the Fair Debt Collection Practices Act and require that the debt collector send you verification of the underlying debt. If that shows that the limitations period has expired, you are within your rights to tell them to stop the collection action. If a suit is filed, it should be readily dismissed.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 3/03/07, 1:21 am
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: statute of limitations NJ and FL

I suggest you get an attorney to clear up this entire mess for you. Even if you settle or work something out, your credit report is still ruined.

My initial consultations are always free, so call me at 732/247/3340 if you'd like to discuss your case.

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Answered on 3/03/07, 12:08 pm


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