SOL and credit report dates

[quote=P.P.]Is the SOL date calculated by adding the number of state's SOL years, to the date of the account's last activity? (last payment-June 2003, plus 6 yrs sol, is June 2009 end of SOL)[/quote]

Yup.

[quote=P.P.]Is the debt removed from the credit reports 7 years after the last account activity? (last payment june 2003, so removal is June 2010)[/quote]

Federal reporting period is different from SoL. It's figured based on the date of first delinquency [DOFD]. That is, the date when the account first went past due and was not subsequently brought current. The creditor is required to charge off the account at 180 days past due. Seven years past that, it can no longer be reported on your credit report. So, reporting period = 7.5 years from DOFD.

Somewhere, I read, that the SOL begins 6 months later, after the last date of account activity.

example: Last payment was June 2003, first 30 days past due July 2003. Add 6 months to June, which is Dec 2003. Now, add the SOL years. So, 6 years past Dec 2003 is Dec 2009. The SOL is Dec 2009.

Or, is it just 6 years, not 6 years and 6 months used to calculate SOL?

I am confused.

It's a confusing issue, to be sure. As it was explained to me [using your example]:

Last payment made on June 1, 2003. Next payment due on July 1, 2003, but not made. The account is delinquent (past due) as of July 2, because you didn't make the July payment on time. That's the date of first delinquency. Assuming that you make no further payments or charges, then the SOL runs from July 2, 2003 for 6 years = July 2, 2009.

That extra six months is for the federal reporting period under the FCRA. That determines how long it stays on your credit report. It runs 7 years after the point at which the creditor is required to charge off the account [180 days delinquent]. So it would stay on your credit report for a total of 7.5 years from June 1, 2003.