statues of limitations
Date: Thu, 03/16/2006 - 09:08
Are there any statutes of limitations regarding how long a debt such as credit card and apartment lease stays on one's credit report. This debt is from 1998.
Lisa, Under the FCRA laws, negative information is reported in t
Lisa, Under the FCRA laws, negative information is reported in the credit report for a period of 7 years only. As your debt is from way back in 1998, the date of first reporting will be taken into consideration.
Depending upon the date of last activity in this account, it might be also out of the SOL period. Thus, under no circumstances, you can be forced to pay this debt. If you make a payment, the debt will become valid and you can be forced legal actions.
Dispute with the credit bureau highlighting this item and request for verification. After reviewing, they will update your file.
