SOL and CA...

Date: Mon, 07/24/2006 - 16:23

Submitted by allogagan
on Mon, 07/24/2006 - 16:23

Posts: 30 Credits: [Donate]

Total Replies: 1

Does a debt that goes into a 3rd party CA affect the SOL or anything. I was just wondering since most of my Debts are going on its 3rd year for some of them since the original creditor charged off the debt (according to my credit report) and as far as I know the SOL for CC debt in my state of Maryland is 3 years so I am wondering if I may have some opinions coming that I didn't have or am I out of luck still. Luckly one of my biggest Debts is nearly paid off, will be paid completely off in Sept., so I am making head way with my old College debts.

Remember, if these are student loans, they will never go out of

Remember, if these are student loans, they will never go out of the SOL period. For your other debts in the collections, check the date of last activity done towards the accounts. You can get the details from the original creditor, or ask the CA to validate the debt in writing. The dates don't change after a CA takes the collection. Some CAs try to re-age the accounts making it look recent in the credit report. After checking the date of last payment, if you are confirmed about them running out of the SOL period, notify the collectors in writing.

If you are willing to pay off the accounts after the SOL has run out, it will be a good decision and the positive impact will appear in your credit. See if your financial situation allows you paying the debts.

lrhall41

Submitted by IncredibleHelp on Mon, 07/24/2006 - 16:46

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