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Texas SOL question

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Anonymous
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Texas SOL question

Forgive me, I'm new. The whole SOL things confuses me to no end.
My question is about this acount:
 
Chase Credit Card
Opened 03/97
Last Active 09/01
Reported 07/03
Account transferred or sold; Closed 07/03
 
Should it still be reporting?? Also, I can't find anything on the report about who it was sold to.
 
Advice? 
Message 1 of 10
9 REPLIES 9
specultr
Regular Contributor

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Message 2 of 10
Anonymous
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Re: Texas SOL question

SOL for TX is 4 years, but that means a CA can no longer sue you for it.


That should still be on your report until 2010. Call them and ask who they transferred the acct to, at least that is a start.
Message 3 of 10
specultr
Regular Contributor

x

 
Message 4 of 10
Anonymous
Not applicable

Re: Texas SOL question

So if the DOFD was in 9/01 it wouldn't be scheduled to come off 9/08?
Message 5 of 10
Anonymous
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Re: Texas SOL question

That's correct Jaded!
 
But I wouldn't just let it fall off. I would send a ltr to the CRAs requesting a DEL due to obsoletion.
 
I did that with the Big 3 for the entire year and they were ALL removed (8 or so).
 
Good luck!
Message 6 of 10
Anonymous
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Re: Texas SOL question



SerenityBound wrote:
That's correct Jaded!
 
But I wouldn't just let it fall off. I would send a ltr to the CRAs requesting a DEL due to obsoletion.
 
I did that with the Big 3 for the entire year and they were ALL removed (8 or so).
 
Good luck!



The problem with that is they CAN treat your letter as a dispute and if the CA verifies, then that updates the collection account and makes it appear more recent, which could hurt your score.
 
Really want to take the chance being so close to fall off?
Message 7 of 10
Anonymous
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Re: Texas SOL question



specultr wrote:
A collection agency can still sue or threaten to sue to trick you into paying, but legally you are no longer responsible for that debt. I guess if they sued you, and you didn't show up to court, they could win a judgment and collect.



Well, technically they could threaten to sue......BUT threatening to take legal action that they have no intentions or doing or can not do by law is a violation of the FDCPA.
 
However, if you are sued past SOL and you do not show up and defend yourself, yes they will get a default judgment. If you do show up and use "past SOL" for your defense, they do not get a judgment.
 
You can be sued at anytime, however SOL can keep them from winning.
 
Message 8 of 10
Anonymous
Not applicable

Re: Texas SOL question

Until a debt is paid you still owe it. BUT  when past SOL they can file a lawsuit BUT your defense is *past SOL*     Once past SOL they can not win a lawsuit but you must be in the court!!!! They can mail you bills and continue to report up until the CRTP 
 
SOL is set by each state. Your CR goes by federal law (CRTP) 
 
A creditor can report on a CO  for 7-7.5 years from DOFD        yours should fall approx.9.09
 
If you have a CA reporting then you should DV them along with the past SOL letter.
 
As far as the OC reporting   I would let it go & let it drop in Sept.
 
Keep hard copies of your CR forever  as CAs come out of the woodwork after CRTP.
 
Whoever bought it isn't reporting or you would see it.


Message Edited by HappyDays on 04-25-2008 11:56 AM

Message Edited by HappyDays on 04-25-2008 11:57 AM
Message 9 of 10
Anonymous
Not applicable

Re: Texas SOL question

Smiley HappyThanks for all the help!
Message 10 of 10
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