SOL confusing and more...
Date: Wed, 05/13/2009 - 10:19
1. Is the SOL from the date the collection started or when it was reported to the credit bureau? A.) If it’s from the date the collection started how do I know that date?
B.) If from the date it was reported to the credit bureau how do I get THAT date.
Reason why I ask is looking at my credit report some items have a start date some don’t.
2. Also I have been to the website of SOL in my state….I moved from one state to another state and the SOL is different. Which one do I go by?
3. The SOL is not written in Plain English…what's the SOL for a utility bill IE phone, gas, elec. How about credit card, car loan
4. The car loan was a voluntary turned in. Not because I was late or could not afford it. I was moving across country and had no where to store it and would not need it so gave it back to them. The amounts on my CR are different. One amount says Balance 3K other says past due 6K how the hell does that work and SOL on it.
5. Many of these are from 1999, 2001,2002,2003 etc. If any of these items have an expired SOL are they required to remove them from my credit report? I have 2 credit cards that are from 8yrs ago according to the start date and I called them said that the account is closed and I no longer owe them payments (sending a letter to them for proof certified of course.) So does that stay there until 7 more years?
I only have 12 negative things on my credit report and I have worked so hard on these last 12 that I am getting anxious to make my life better and move forward… Any and all help is appreciated.
PS I was living in CA when all my debit started now in MA.
Thanks in-advance this site is great!
1. SOL generally starts with the date of last payment 2. SOL i
1. SOL generally starts with the date of last payment
2. SOL in CA is 4 years, SOL in MA is 6. If SOL had expired before you moved from CA, then you are OK. If SOL had not expired, then you might have tolled the SOL.
3. Utility bills are normally covered under the UCC SOL of 4 years.
4.SOL would be 4 years under the UCC and SOL would start when the car was sold at auction and a deficiency balance remained.
5. Do not confuse SOL with federal reporting time limits. Federal time limit is 7.5 years from the Date of First Default. When you missed your first payment and never brought the account current. You should not see anything on your reports with a DOFD earlier than 11-01.
Thank you. I THINK this might have helped but wont know until yo
Thank you. I THINK this might have helped but wont know until you give me the abbrev of everything you said...SOL is all i know for statue of limitations.
And when you mean tolled do you mean since I moved from CA to MA that it rolls over to MA SOL.