SOL and credit report questions...

No, negative information remains on your credit report for 7 years from the date of last activity as per Federal law, the Fair Credit Reporting Act.

The SOL under Florida Law (or any State Law) relates to the ability for CA's to take certain actions to collect, like filing suit to gain a judgement or garnish wages, etc.

Once the SOL expires, CA's can still try to collect but calling (harassing) and writting letters, but other than that can't do much else unless they can trick you into re-starting the SOL.

After the State SOL expires you are not LEGALLY obligated to pay anything unless the CA's can get you to some how get you to restart the sol. In some states this is as easy as talking to them about the debt, or even admitting the debt was(is) valid. They hope people panic on these accounts, and pay without knowing their rights and protections afforded under the law.

In short the SOL under the FCRA and SOL under state laws are two different animals, and it is important to understand what each affects, and how they can affect your finance and credit reports.

Okay thank you very much for clearing that up for me Clay. :D I appreciate it.