Can someone help with this meaning??
Date: Mon, 05/18/2009 - 12:09
Then under NOTE 1. An action accrues on the first date on which the creditor can sue for a breach or for relief, generally from the last purchase or the last payment.
Can someone explain to me what action accrues actually mean??
The account I am working with was opened on Aug. 01, 2001
chargeoff date-4-17-2004
Date of last transaction--10-2003
Its past 4 yrs---but I dont understand the part of under note where is says 4 yrs after accrual of the right to sue.
Can someone please help understand this part
Thanks
cdoris
cdoris, what that means is after your account became delinquent
cdoris, what that means is after your account became delinquent and the creditor had the option to sue! Four years from that date the SOL would have expired providing you did not make a payment past that date. If you did that would be the date recognized!
Leissis please start a new thread asking that! It will get seen easier!
Thank you
Thank you for your reply. I understand completely and NO no payment/s were ever made. Im hoping the CB will remove this negative from the file, since the CA entered a wrong date.
wish me Luck
cdoris
follow up
Here is follow up after writing to the 3 credit bureaus.
Sent a dispute letter to all 3 credit bureaus to remove a negative on acct after collection agency was not able to validate debt.
one credit bureau replyed with: Equifax verified that is item belongs to me, and if i need further information to contact Cbusasears. My question is? Am I suppose to settle for this answer? or am I too continue requesting re-investigation from the credit bureau to try and get it removed?
The other Credit Bureau Transunion is requesting proof of currect address or gov. ID in order to notifiy me of there investigation. My question on this one? Are they allowed to require proof?
The credit credit bureau has not responded.
Can someone provide info Please??
Thanks
cdoris