Public Financial Knowledge Infrastructure: What is an SoL?

    Since no one seems to be jumping up and down to get this part of the Project started, I am beginning with a very basic post, meant to be useful for anyone wishing to give a 5-minute seminar at the Metro/Trolley/Bus stop.
   SoL  ==  Statute of Limitations
   Statutes of Limitations are time limits on the enforcement of laws, basically.  The kinds of SoLs that Project Do Better focuses on, in Phase I, are those related to debt.  Every state has a different set of SoLs for each of the 4 kinds of debts:
  1.   revolving  or open, is credit card;
  2.   written contract;
  3.   verbal contract;
  4.   promissory notes
        Many web sites list the various SoLs by state, but be sure to compare the SoL in your state with the online legal code of your state.
  statutes-of-limitations
    Another crucial point to remember is that in most states, the clock can restart on an old debt if you promise to pay, or make even a token payment on an old or expired debt.  That is why it is very important to be careful in dealing with debt collectors of any type, even if the debt has  been validated.
  until_debt_tear_us_apart_28unsplash29
 And
a week or so after that…
  printable_yearly_2020_calendar
  And then, you can determine whether that debt, if valid, is time-barred.

Shira

*****************

Click here to read, if you like:

Shira

Creative Commons License
Shira Destinie Jones’ work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

16 thoughts on “Public Financial Knowledge Infrastructure: What is an SoL?

    1. Stay tuned for more, and please share it widely.
      🙂

      It’s designed to be ‘bite-sized’ enough to print and hand out while waiting at the bus stop, or maybe while waiting to cross the street?

      Liked by 6 people

Please Share your Thoughts

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s