statute of limitations

Date: Thu, 07/14/2005 - 17:01

Submitted by anonymous
on Thu, 07/14/2005 - 17:01

Posts: 202330 Credits: [Donate]

Total Replies: 3

Is there a time limit that an original creditor can look at your credit report? If Ohio's SOL is 15 years, can an original debtor look at your credit report within that time?

Hi jbjoan Welcome to the forums. Statute of Limitation for de

Hi jbjoan

Welcome to the forums. Statute of Limitation for debt in Ohio is:

Written or oral account: 6 years,

Written contract: 15 years,

Oral contract: 6 years

As per The Fair Credit Reporting Act, the creditors are more likely to apply every sort of action within the SOL period to recover the debt from you.

It will be a better option to clear your debt with the creditors because they report your accounts to the credit bureaus. Not paying towards your debt will cause negative markings in your credit ratings and you will have difficulties in acquiring new credit.

Regards
Roxette

lrhall41

Submitted by roxette on Thu, 07/14/2005 - 17:15

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sol of michgan

any one know the sol of michigan is or where to find out

lrhall41

Submitted by on Mon, 07/18/2005 - 17:00

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Hi Cindy Welcome to the forums. The statute of limitation for

Hi Cindy

Welcome to the forums. The statute of limitation for Michigan is 6 years.

Judgments are for 10 years but are renewable by action for another 10 years.

Regards
Roxette

lrhall41

Submitted by roxette on Mon, 07/18/2005 - 17:10

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