SOL websites

Believe it or not, I went to the Creditwrench website and there was a link on there. I'm not sure how I got to it but it was on there. If you're in FL it is 5 years.

 

These two things are completely separate.
SOL is completely separate from reporting time. CRA's report collections for 7 years.....period, unless you can dispute and get removed. Statute of Limitations is the amount of time the creditor has to file suit/take action.

 

A lot of people get these two things mixed up. Reporting time limit and SOL are not the same thing.

 

WWW.Nolo.com is a great self-help law site complete with links to the SOL of your state.

Heres a direct link to the SOL page at NOLO:http://www.nolo.com/encyclopedia/articles/cm/timely.html#FAQ-418

 

Reporting time should never be longer than Sol.
Reporting after SOL is reporting inaccurate or incomplete Info.

 

Like breeze said, they are completely separate things and not related at all. For example, even if the SOL is 3 years, the account can still be reported for 7.

 

OMG, I just checked the website. 10yrs!!! so what exactly does this mean.. does this mean that even after it comes off my credit report, they can try to collect???

 

Correct.But after the 3 years they are reporting false info because there is no such account as the sol wiped it out.

 

Yes, unfortunately, that's what it means. 10 years? What state are you in?

 

Interesting interpretation.

Could have you used this defense before?

 

The reporting time for paid collections in NY is five years instead of seven. I am not aware of any other similar state exceptions to the seven-year rule.

The argument that a report of a debt is "false" after the SOL expires is misguided. First, CRs include historical information. Thus, just like paying a charge-off doesn't get it off (b/c you DID owe it at one time), the fact that the SOL expired doesn't get it off either (b/c the COULD collect at one time). Second, the SOL is a defense. Thus, you could still be sued for the sebt, and it would be your obligation to show up in court and assert the SOL. If you didn't the judgment against you would most certainly be enforcable.

 

Not so. Don't try it. Squawk is right.

 

Thanks.

That was my first instinct.

Wishful thinking on my part.

 

I found a website that has that info. It wasn't the same one that linked to CreditWrench but it gives the same info.

I am new at this so I don't know how to post a direct link. It is on www.creditinfocenter.com. If go to that website they have articles and posts regarding the SOL.

I'm sorry I can't do the direct link thing.