I have a GECAL auto repo with last activity of 12/97on Equifax. I believe the SOL in Colorado is 6 years. Questions: 1. Is that 6 years from "last activity" as reported to and displayed by CRAs? 2. Can anyone verify the SOL for Colorado? 3. Does the SOL apply to all accounts/account types? 4. Does paying a CA reset the "last activity"? 5. Assuming once the SOL is eclipsed (in this example case 12/03), and the OC/CRAs continue to report, can I sue for damages? 6. In this case, how likely is the TL to just drop off, versus me having to send out the intent to sue? Thanks in advance!!!
yes I saw 6 years across the board for CO too, but you might want to check their specific repo laws just to be sure. In your state it seems too, however, some states have different SOL's for written, oral, open contracts, etc. not legally Now you are confused. The SOL for reporting is 7 years, that's a Federal law. It can remain until 12/04.
1. Is that 6 years from "last activity" as reported to and displayed by CRAs? 4. Does paying a CA reset the "last activity"? 5. Assuming once the SOL is eclipsed (in this example case 12/03), and the OC/CRAs continue to report, can I sue for damages? 6. In this case, how likely is the TL to just drop off, versus me having to send out the intent to sue? MtnMan +++++++++++++++++++++ 1*Unless an account has been re aged. 4**See 1 5*NO 6*It will drop off at the end of seven years which is the reporting period and has nothing to do with the 6 year SOL for suing for collection. THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
