How do I know when the SOL is?

[Anonymous]

on this account this is what is listed

Status as of April 2003

Date Opened Nov 1999

Date of last activity April 2001

When is the SOL up?  Thanks for any help. 

My transunion report says that it is due to fall off in Jan 08, how is it calculated?

[Anonymous]

SOL usually begins running from DOLA - the creditor can sue in the state you are in now or the state you signed the agreement in (whichever benefits them if longer) It also depends on the type of account - simple  SOL LIST

[Anonymous]

What is showing is a cc that is showing as an open account.  The SOL in my state is 5 years, according to the website.  Yes it is a blemish showing as open but charged off.

[Anonymous]

All CC are (type of account)  open accounts     promissory notes are for auto and mortgage etc.

All  CO  should show   closed/paid    closed/ CO/assigned/sold  something like that

Your CR  should tell   will remain on account until  month/date   the wording may be different  but you should be able to understand it....it will ONLY show on your CR

TU and EX  drop by DOFD  EQ uses DOLA

The SOL  is set by each state    when it drops from your CR is set by the OC (CRTP) federal law.

If your SOL is 5 years    start counting from  DOFD (when you last paid)  up till the end of the month and year

The date that you opened or the date that the account was closed or CO  means nothing.

When you are past SOL (5) years  it will still report on your CR untill drop date  paid or unpaid!

Message Edited by HappyDays on 03-24-2008 03:56 PM