SOL for Collection Account

Discussion in 'Credit Talk' started by chipper, Mar 14, 2003.

  1. chipper

    chipper Well-Known Member

    I understand that if a payment is made to a CA during the SOL, that the SOL resets to the payment date.

    I recently made a payment after the SOL expired, being a newbie and all. Does the SOL begin again?

    Thanks.
     
  2. Why Chat

    Why Chat Well-Known Member

    No, it does not restart.

    The notion that it does restart is a MYTH.

    The only way it could POSSIBLY restart would be if you signed a new credit agreement, such as in debt consolidation, or had the old debt rolled into a new credit card.
     

Share This Page