Target Credit Card

Date: Sun, 03/11/2007 - 23:33

Submitted by anonymous
on Sun, 03/11/2007 - 23:33

Posts: 202330 Credits: [Donate]

Total Replies: 2

My Wife and I tried to get a car loan. We have a lot of medical collections on our credit. The one thing that stopped us from getting a good interest rate was due to a credit card in my wifes name. The card was opened in 1999, but it shows activity up to 2003 as far as being reported. the debt is still on her credit as of today in 2007! Is the SOL for collection 4 years and the debt removed in 7 years in California? Please let us know, this is frustrating.

Thanks
TCC

I think you are misunderstanding how the statute of limitations

I think you are misunderstanding how the statute of limitations works. If you have an outstanding debt, then you still owe it, regardless of any SOL. The SOL for credit cards in California is 4 years from the date of delinquency--for the owner of the debt to collect via lawsuit. It is 7 years from the date of your last payment to fall off your credit report. So, if the last payment was made in 2003, this should not be removed from the CR until 2010.

If the last payment was prior to 7 years ago, you need to dispute this with the credit reporting agencies/creditor to have it removed from the CR. The debt itself is not erased after 7 years, but after you are sure the SOL has expired, you do have the right to tell them to kiss off.

lrhall41

Submitted by Morningstar on Sun, 03/11/2007 - 23:53

( Posts: 1633 | Credits: )

For credit reporting, the sol starts six months after the date o

For credit reporting, the sol starts six months after the date of last activity, then stays on for 7 years.

lrhall41

Submitted by goudah2424 on Mon, 03/12/2007 - 08:10

( Posts: 7935 | Credits: )