Re: Re: Re: SOL in PA? Unless PA has a shorter reporting period than federal of 7 years it can still be reported for seven years. Don't confuse Repotting Period with SOL as they are entirely two different matters.
Re: Re: Re: SOL in PA? SOL = how long they have until they can sue you for the amount or actively collect Reporting period = 7 years for all negatives on your credit report This means they can still report the TL but they cannot sue you. HTH
Re: Re: Re: SOL in PA? thanks HTH. that definitely clears it up for me - i knew it sounded too easy. i'll keep disputing or hope i can catch them in some sort of violation - aaaaah!!!!
Re: Re: Re: SOL in PA? I'm new but I think I can answer this one. The SOL is the amount of time they have to actually legally collect the debt. Meaning if it's over 4 years in PA they can't sue you to recover the debt. You are still bound by the 7 years that the debt can be reported to the CRA's though. The reason I originally started this thread was, I have one or two debts that are outside of this 4 year period to collect. In hand this means they may be more likely to accept a settlement offer on the account since they can't sue me for the money that was once owed. That and if I tried to validate, they may go "oh yeah, we remember you now..here's our lawsuit against you to collect". I didn't want to stir the pot so to speak If your efforts to validate and the nutcase doesn't work, you may wish to try a settlement offer where you pay them in exchange for them removing the derogs from your report. And as always, get it in writing. Do some searches on the board for additional "settlement" advice. Make sure you get other opinions too. I'm very new to all of this, I've just been reading allot. If I'm wrong here...someone please let me know. I'm still learning Hope this helps.
Re: Re: Re: Re: SOL in PA? In my OPINION "settling" with a CA is $$ down a rat-hole. Even IF you have an agreement that THEY delete, you canot force them into complying with any agreement that prevents them from selling the balance to another CA, it is called "restraint of trade" and as it is illegal, any "agreement" would be unenforceable. PLUS, the very existance of a mutually SIGNED settlement agreement could be considered a new contract, so the balance sold to the next bottom feeder may be LEGALLY re-aged. When it is put back on your reports as a NEW account for the next 7 years you will have a very hard time getting it removed. Some people seem to have had luck using the "SOL" letter from my website, and following it up with the letter to CRA's posted below it.
