Hi, I'm new here, but I've been reading here for a while as well as other sites....there's a ton of stuff to wrap my head around with all this. My credit scores are currently 585 with all 3 CRAs, which stinks when I want to buy a house in the very near future. My derogatory items are: - Collection Agencies - Charge Offs - Chapter 7 Bankruptcy filed 5/05 - discharged 9/05 - all of these accounts included in the BK have already fallen off, it's just the BK itself that hasn't dropped yet, but it's scheduled to 5/15 - 2 repossessed vehicles - 1 in 6/08 and the other in 8/08 or 9/08 I recently moved from TX to AL and have been searching for "what that does the SOLs on several of my old debts", but I keep coming up empty-handed for an answer to that - anyone have any info? I have a couple of negatives that will be falling off next month, so I feel like the best course of action with those is to just leave them be and let them fall off in June and focus on the other "stuff". I have no idea where to begin with all this, I used a repair company a few years ago out in TX and they were great, but I can't afford to pay for something I can do myself with some help and guidance from those who have already traveled these roads. Any advice anyone can provide will be greatly appreciated. Thanks and back to reading and learning for me.
Re: SOL Your SOL would be going by TX, if TX is the state where you were when the account was opened, or last updated. Here's the problem. The minute you moved from TX, you tolled (stopped) the passage of the SOL. The SOL won't re-commence until you would move back into TX, so if a CA would decide to sue you, on an otherwise time-barred debt, the tolling of the SOL could keep their suit being legal, because the SOL stopped tolling. That could really be bad for a state which would have a long SOL to begin with.
Thanks Jam! That's what I was afraid of :-(. Moving back to TX isn't an option. So what do you all recommend I do at this point? Just wait it out or start sending DVLs to the CAs? I'm not sure what the best course of action would be.
Typically what I do, is decide the odds of a company selecting the litigation option. I usually consider the amount, age and distance of the CA to decide the relative risk of waking the sleeping dog. If I decide to do it, then I calculate the process for that account. Typically, send the dv letter, the minute I know they received it, I send the CRAs a dispute.
bamagirl maybe this may be some help to you. Go try get my credit cleared.com one of my friends wanted to DIY. She said she tried it and it worked for her. She had an old tax lien and was able to eventually have it removed. Good luck.
