[tickedoff]

I was served this past weekend on an alleged credit card debt dating to 1997!!! Asset says it was assigned to them in 2003. Unbelieveable.

OC is Provident Bank.

I am debating whether to let an attorney handle this or fight the good fight myself. One thing that I wanted to point out- Asset Acceptance is repreented by the law firm of Lloyd & McDaniel. Interestingly enough when I was researching SOL, a website pointed me to the firms website. Right on their own website, L&M says the SOL for open accounts is 5 years.

I have a couple questions-
1) Has anyone found any case law on CC being open accounts? Surely this has gone to at least circuit level?
2) I'd like to know the statute that says that the assignment must be included in complaint. There is nothing attached to my complaint accept for a statement from Asset showing the alleged amounts and dates.

[tickedoff]

Also, what about the doctrine of laches? Do I have an argument independent of the SOL debate, that their failure to take any action in nearly 11 years (from DOLA) and 5 years (date of alleged purchase) puts me in a strategic disadvantage? That is, that we are well beyond the time period that one would be reasonably expected to have financial records dating to 1997?

[Qtip]

tickedoff,

Welcome to the forum, I moved your post as it is essentially a new topic. Just did not want to jack the other thread.


Thanks

[tickedoff]

hi Qtip- thanks. I thought that thread was an appropriate place for this post. As there are multiple individuals in that thread wrestling with the same issue- in the same state (Kentucky), with the same plaintiff. Can you at least change the title so that people know it is the same issue?

[Qtip]

Hi,

No big deal, Sorry for the confusion! what name you you like me to place on this thread?

[Qtip]

Hi,

Sorry for the confusion, what name you you like me to place on this thread?

[tickedoff]

how about "another Kentucky credit card SOL case"

[Lucy]

I am by no means a pro but the whole purpose of a SOL is that someone cannot be sued after a certain amount of time has passed. Places like Asset purchase old debt and then try to collect on it so the sol must be brought up.

I remember the thread about the KY debt and if I recall they were having a hard time finding exactly what the sol for cc debt was. Generally cc debt is open acct. Do you have any old credit reports that show the Date Of Last Activty on the debt? Debts are removed after 7 years from a cr. After 11 years someone has had plenty of time to sue on this debt. I'd file a motion to dismiss using sol as your defense.

[tickedoff]

Thanks Lucy. I have two things:
1) credit report as of 2006 showing a zero balance
2) A document attached to the complaint thats shows the DOLA is 1997.

Certainly, the issue remains whether the KY courts do/will view cc debt as open or written. I can tell you that I have absolutely no memory of this account.

One hope would be that even if the courts are viewing this as written, that they will have a hard time finding the so called contract after all these years.

I plan to deny ownership of the account and demand proof, as well as cite SOL and the doctrine of laches. They've basically set on their hands all these years, and slap me with a lawsuit.

Thats why Im
-TickedOff

[tlc008]

The only things I know of that might help you are the Truth in Lending Act, Fair credit Billing Act, The Fair Credit Reporting Act (defines credit cards as the same meaning as in the Truth in Lending Act), and the Fair Debt Collection Practices.

A couple of websites you might want to look into though are:
consumers.creditnet.com/Discussions/credit-talk/t-letter-news-channel-8-here-fl-59511.html
-and-
.law.cornell.edu/supct/html/02-857.ZO.html

I can't post links either just add the usual stuff to the beginning.

Please keep your progress posted as I am also in this mess.