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Guest · Posted: Wed Apr 09, 2008 1:16 pm Subject: When does SOL start?

SEARS/CBSD - Revolving Charge Account
REVOLVING REVOLVING REVOLVING
Account Number
Ownership Individual
Date Open 02-2005
Balance Date 06-2006
Balance Amount $398
Monthly Payment $11
High/Limit $250
Account Status Bad debt; placed for collection; skip
Prior Delinquency 12-2005
Past Due Amount $398

can someone analyze this for me?
Does that mean the SOL starts on 12-2005 or the balance date of 6/2006?

Posted: Wed Apr 09, 2008 9:24 pm Subject:

I'm sorry, I don't have a answer for you, but hang in there, someone with knowledge about this will be along to answer you as soon as possible. Smile

Posted: Thu Apr 10, 2008 2:25 am Subject:

As far my knowledge goes, the SOL clock start ticking just after you default in your payment.

Lucky1 · Posted: Sun Apr 20, 2008 11:41 pm Subject: SOL start point

My understanding is the clock starts ticking for SOL in conjuction with the DOLA (date of last activity).

Based on the info you presented, and assuming that the balance date = DOLA (which it may or may not), then it would had started in 06-2006.

Hope it helps.

Lucky Razz

Posted: Mon Apr 21, 2008 12:24 am Subject:

Last payment.

Posted: Tue May 13, 2008 9:39 am Subject:

SOL will start after your last activity. That being a payment or a charge. Make sure to check the SOL for your state.

And remember, SOL is only referring to how long a creditor/Coll. Ag. has to file suit for the debt, not how long the account will remain on your CR.

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When does SOL start?

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