I just got a letter from a CA about a check that supposedly I wrote SEVEN YEARS AGO, that they are trying to collect on. Can anyone let me know what I should do? I am so outraged that I cant even think straight. I know first and foremost that SOL is 7 years but after that I have no idea what I should do to these B@st@rds! There has to be something!!
Are you assuming SOL is 7 years? It varies, depending on your state. 7 years is the length most items can remain on your credit report.
You're confusing the Statute of Limitations (SOL) with the reporting period. A negative entry can report on your credit report for seven years. But the Statute of Limitations varies by state and by type of transaction (open ended, installment, written, etc). You need to check the laws for your state. There are several sites around, or a quick call to an attorney or your state Attorney General's office should get you the info. WhyChat, who posts here, has a site with the various SOLs on it. Many are way less than 7 years. That being said, in some states bounced checks are different, and can even be a criminal action. I think your best bet is to call an attorney and ask what the SOL is for returned checks. If you search the board, there was a thread on this not long ago.
Why Chats site http://community-2.webtv.net/Y-chat/WhyChatsCredit/ S.O.L. SITE http://community-2.webtv.net/YCHANG...AGE/page16.html
