What will reset the statute of limitations for debt in Colorado?
thejman80020 asked:
Can’t seem to find any Colorado laws detailing what would constitute resetting the SOL on debt collections in the state of Colorado? G/F has some items on her credit report showing 4 years old when the Colorado SOL is 3 years. However, she made some payments on the debt within the past year. I’m wondering if Colorado considers making a payment to be resetting the SOL on that debt, or if the original date would be valid for SOL purposes regardless of her making some payments?
Can’t seem to find any Colorado laws detailing what would constitute resetting the SOL on debt collections in the state of Colorado? G/F has some items on her credit report showing 4 years old when the Colorado SOL is 3 years. However, she made some payments on the debt within the past year. I’m wondering if Colorado considers making a payment to be resetting the SOL on that debt, or if the original date would be valid for SOL purposes regardless of her making some payments?
Tags: 3 Years, Colorado Laws, Credit Report
November 9th, 2009 at 4:14 am
I’m not sure about Colorado, but payment typically restarts the SOL in most states, especially if you acknowledge the debt.
November 10th, 2009 at 1:52 am
In Colorado any action you take with a debt ie:answering debt collectors calls,making payments,ect. all reset the debt. It is considered aknowledging the debt and thus resets the SOL. The best advice I have is to Ignore it if it is that old.
November 10th, 2009 at 8:00 pm
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