What starts SOL? Last payment or chargeoff
Date: Thu, 05/10/2007 - 11:59
I have a credit card a few years old and am trying to find out if the statute of limitations starts with last payment or the charge off notice from the cc company. I assume I can last payment or charge off listed on a credit report?
For purposes of the creditor obtaining a judgement, the SOL begi
For purposes of the creditor obtaining a judgement, the SOL begins at last payment.
For credit reporting purposes, the SOL would begin at charge off. If you make a payment on the account, that would reset the SOL, however.
Ok does this apply to the entire country or does this vary from
Ok does this apply to the entire country or does this vary from state to state? (Georgia)
Generally sol starts at last payment with different lengths of t
Generally sol starts at last payment with different lengths of time per what state you are in and what type of debt it is.
Open Account in GA = 4 years Written Contract in GA = 6 years
Open Account in GA = 4 years
Written Contract in GA = 6 years
Credit cards are usually considered open accounts, but you can call your state's attorney general to verify.