I have a tradeline in my report that posted in 2000, and the SOL is supposed to be 6 years for my state. Why is it still there? There is no notation that the debt was verified at any point. Aren't tradelines just supposed to drop off automatically? If they don't, is a letter or even phone call to the CRA the best course of action? Of course I don't want to do anything that will reset the counter. thanks. bushka
Supposedly 60+% of the info the CRAs have is inaccurate. If info on your CR is past the SOL you can easily dispute as obsolete with the CRA.
The SOL in your state has nothing to do with the length of time they can keep it on your credit reports. Be that as it may, you say that the tradeline in your report was first posted in 2000? The SOL for reporting is 7 years +180 days so it could have as much as another 6 months to stay there or it could be already past the SOL and you just haven't disputed it yet as being out of SOL. You aren't supposed to have to do that but it does help sometimes to dispute it as out of stat. IF they turn you down then dispute again in a couple of months or so.
The SOL does not have anything to do with how long a negative item is on your credit report. The SOL applies only to collection efforts. While the SOL period may be 5 years, a negative item can stay on a credit report for seven years, after which it is supposed to drop off. Note the words "supposed to". The crooked creditors and their collection goons will keep your credit history in the toilet by updating your file year after year, so according to the credit bureaus a new year begins on the date of their last entry.
