Author Topic: Credit Union SOL California  (Read 116 times)

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Shylock

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Credit Union SOL California
« on: June 21, 2015 11:10:18 PM »
When would the sol clock start ticking for an alleged Share Draft (Checking) / Overdraft Line-of-Credit Loan in California? Would it be the last payment made, the last payment due date if that is later, or the date when funds from the line of credit were last used?

CleaningUp

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Re: Credit Union SOL California
« Reply #1 on: June 21, 2015 11:54:03 PM »
My guess is that your answer is found in the Share Draft (Checking) / Overdraft Line-of-Credit Loan contract attached to the account.  It will tell you the date of default.

We would need more details on the the cash flow through the account to give you a better idea.


Brunothe JDBKiller

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Re: Credit Union SOL California
« Reply #2 on: June 22, 2015 12:57:29 PM »
I would use the date of the first scheduled payment that you missed. That triggers default in 99% of these contracts.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

Shylock

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Re: Credit Union SOL California
« Reply #3 on: June 27, 2015 10:13:15 PM »
Thanks. I will try to get a copy of the account agreement/terms.

 

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