SOL period for a debt account

Hi

As per the state laws, the Statute of Limitations begins from the date of last activity in a debt account. The dates do not change if they are sent to a particular collection agency. Some CA's try to re-age the accounts by changing the dates of the payments made.

Please monitor your credit report and see if the date of last activity is correctly placed in your credit account.

Do you know where I can reference the SOL for different states? Is it based on where I live or where the creditor is located? Also, does that SOL start all over again if a payment is made on an account that was previously charged off?

The Last Activity? Is that the Last Payment?

SO the last payment shown was March 12 2002. So the SOL expired March 12 2006??? 4 year SOL

Hi JClark15461

The date of last activity is the date of last payment. The timeframe for SOL differ from each state. Let me know the name of the state where your account took place. Some states have 4 years period whereas some have 6 years. So, you have to be sure on the SOL in the state where the account was opened.

help03, to answer your question, the SOL of that state will be calculated where the account took place. It does not make any difference if the creditor is located there or not.

I am in Pa so I know it is 4

Hi John,

You mentioned the state where the account took place, you mean where I lived when it was opened?

Your account is past the SOL timeframe. This means that no company can force you to make the payment. However, you must send a letter in writing to the company notifying the expiry of the SOL. Also, mention that their is no further reason to contact you regarding this debt account.

Once you have done this, the company has to stop their collection activities or else you will have a case against them.

I just viewed my updated credit report and I see Aug 1 2007. Account SOL what does it mean?

What state are you in? What is the last payment date on this account?