Here is my situation: I have a total of 18 charge offs in my report dated between 1995-96. I didn't file for BK at the time. I decided to go back to college and get a degree in engineering. I am now pursuing a PhD in engr. I started re-establishing my credit and I have a Providian card with a 5.5K limit now. I checked all my credit reports and all 18 charge offs are still there. (no collection agents - just original creditors). Should I start writing these letters to validate my debt or should I just let time elapse. They should all go away between 2002 and 2003. Since no creditor bothers me now, I was afraid that I would bring old ghosts back, but I now learned from MARIE's posts that the SOL has elapsed. (therefore I have nothing to lose). I am glad I didn't file for BK!!! Hopefully everything will be gone! Thanks
SOL gone... they're done with I'm NOT a lawyer... but it's my understanding that, if the SOL is passed, you're in the clear. Experts...??? Correct, right? So, if the SOL has expired on them all there is NO need to bother the old ghosts. Legally, they can't come after you anymore (or sell them to collection agencies). Don't bother w/validation. That's for an active collection issue (someone's after you). So the only issue is your credit. What state do you live in? If it's NY, I have it from a mortgage expert that NY has a limit of only 5 years on negative info remaining on your credit report... You could "move to NY" via address, and then a month or 2 later order your reports. THe NY address will trigger the computer to remove them on the basis of the time limit. You can also just do a regular dispute directly with Equifax et al "not mine". or whatever. You can read a successful post about this: http://groups.yahoo.com/group/credit-repair/message/1701 It's on Yahoo so you'll have to do some type of "registration" to see this... but between this site and that one I've pretty much found all the answers I need for my credit issues.
RE: SOL gone... they're done w why didnot the computer trigger deletion of my 6 year old debts with a ny address for 3 years. roni
RE: SOL gone... they're done w Thanks for the info Marie. I live in New Orleans, Louisiana. I have a friend in NY; perhaps I could borrow his address for a while and see what happens. If I get results I will let everybody knows in this board. Thanks again Marie. You are always so helpful!!!!
RE: SOL gone... they're done w Were they paid? Here is the text from Equifax' statement: "The length of time information remains in our credit file is shown below: New York State Residents Only: Satisfied judgements remain 5 years from the date filed; paid collections remain 5 years from the date of last activity."
Also Junum had my reports and review them. They came back verified then too. For the last time, I dont owe anything.......All my stuff is paid. roni
