Statute of Limitations - Florida
Date: Wed, 07/29/2009 - 17:44
Hello! I have a lot of debt and am attempting to fix it now that my husband and I would like to buy a house. Most of it is from 2005ish and most is in collections. Isn't there a time when this debt falls off? How do I get it off of my credit report without showing that I'm acting on my debt? Does "Last Active" mean that it's four years AFTER that date, even if it's not me who is active?
Thanks SO much! I'm new and I have no clue what I'm doing. My husband and I have about 30k between us and about 10k to use to pay it off. We'd rather not use all of it - and we'd LOVE to see some of the older debt fall off if we knew how to do it!
Thanks SO much! I'm new and I have no clue what I'm doing. My husband and I have about 30k between us and about 10k to use to pay it off. We'd rather not use all of it - and we'd LOVE to see some of the older debt fall off if we knew how to do it!
It will stay on your credit report for 7 1/2 years from the date
It will stay on your credit report for 7 1/2 years from the date of default, or if you pay it or settle, from the date the account was closed. You can negotiate for a pay for delete, but that normally entails paying the entire amount. After you pay them off it should take about 2 years with perfect credit (you can get a Secured Card and a bank loan secured by a savings account) to see your credit score raise up to a proper amount to get a decent mortgage rate.
The state SOL is only for protection against legal action.
