What is the SOL for TN?
Date: Wed, 04/25/2007 - 19:31
If I live in TN, but the debts accurred in different states which SOL applies? My husband has several past credit derogatory items which caused us not to be able to quailfy for a morgage. I knew it was bad but did not know it was that bad. We also got screwed by a bad morgage consultant with 5/3 bank. ANyways, My husband has all these negative items on his report and a lot of them are from 2001 some haven't even been reported since then. Well, one of them is from Nordstrom it says acct submitted to collection coll 4-07/ charge off chrg 589 chrg 02-01 closed by creditor/ past due 589
What does that mean? Thank you so much.
Tabitha
What does that mean? Thank you so much.
Tabitha
I'm reading that entry as Nordstrom either referred the debt to
I'm reading that entry as Nordstrom either referred the debt to or sold it to a collection agency this month. The account was charged off back in May of 2001, and it should fall off your credit report in May of 2008.
The SOL for credit cards applies to the state you currently live in. For Tennessee, the SOL on credit cards is 3 years.
The both of you can try to dispute negative entries on your credit report, you might have a little success removing some of the bad stuff.
