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I have 3 accounts that I don't know what to do about or really understand the how to calculate. I would appreciate any help on this.
Two of them were opened in 11/01, last payment 11/04, date of first delinquency, 12/02.

The third account was opened at the same time as the other two, except, date of last payment is even older, more like 2002 and it is not on any of my credit reports.

My question is, how do I calculate the sol for these in new york, and I don't really have the money to pay these accounts off, should I leave it alone?

Please delete spam, I just would like some advice to my question

Sub: #1 posted on Fri, 07/18/2008 - 21:18


SOL would be based on date of last payment.

Sub: #2 posted on Fri, 07/18/2008 - 21:55

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SOL in New York:

New York Statutes of Limitation

N. Y. Civil Practice Law and Rules: Chapter Eight of the Consolidated Laws, Article 2 - Limitations of Time:

211. Actions to be commenced within twenty years. (a) On a bond. (b) On a money judgment. (c) By state for real property. (d) By grantee of state for real property. (e) For support, alimony or maintenance.

212. Actions to be commenced within ten years. (a) Possession necessary to recover real property. (b) Annulment of letters patent. (c) To redeem from a mortgage.

213. Actions to be commenced within six years: where not otherwise provided for; on contract; on sealed instrument; on bond or note, and mortgage upon real property; by state based on misappropriation of public property; based on mistake; by corporation against director, officer or stockholder; based on fraud.

213-a. Actions to be commenced within four years; residential rent overcharge.

213-b. Action by a victim of a criminal offense.

214. Actions to be commenced within three years: for non- payment of money collected on execution; for penalty created by statute; to recover chattel; for injury to property; for personal injury; for malpractice other than medical or dental malpractice; to annul a marriage on the ground of fraud.

UCC, Section 2--725. Statute of Limitations in Contracts for Sale. (1) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one year but may not extend it. (2) A cause of action accrues when the breach occurs, regardless of the aggrieved party`s lack of knowledge of the breach. Contract for lease of goods: 4 years (N. Y. U.C.C. 2-A-506(1).

S 203. Method of computing periods of limitation generally. (a) Accrual of cause of action and interposition of claim. The time within which an action must be commenced, except as otherwise expressly prescribed, shall be computed from the time the cause of action accrued to the time the claim is interposed.

Sub: #3 posted on Fri, 07/18/2008 - 22:01

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For New York State law information, visit

h ttp://

Sub: #4 posted on Fri, 07/18/2008 - 22:03

smo65d11 smo65d11

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