I have an old credit card that is now past the statute of limitations in my state. (opened 07/02 - last payment 05/03) I disputed the trade line this month and it came back verified, no change. Transunion says this account will remain on file until 11/09. Can they verify the trade line after the statute of limitations has expired? Discover is the only one reporting, although the account, last I was contacted by, was sold to some law firm. I haven't heard anything from them in over 2 years.
. Statute if limitation and length of being on a credit report don't have anything to do with each other. A negative entry by a creditor will stay on your credit report for 7 years even though the SOL expired in the 3rd, 4th, 5th, or 6th year. Why is this a law? To keep your credit history in the toilet.
