question about SOL.

[Anonymous]

I have seen a lot of info about checking the SOL for accounts/collections, etc reported on your file. My question is which state's SOL applies?

We lived in CA until 2004. Almost all of the accounts that are reported (good and bad) were opened while we lived in CA. Since 2004 we've lived in OR. We have opened a few accounts (SL and a car loan) while living here so I know those would be according to OR SOL. But what about the others? I don't think the 2 states have identical SOLS.

Anyone who can advise?

Thanks in advance!

[Anonymous]

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am911 wrote:
I have seen a lot of info about checking the SOL for accounts/collections, etc reported on your file. My question is which state's SOL applies?

We lived in CA until 2004. Almost all of the accounts that are reported (good and bad) were opened while we lived in CA. Since 2004 we've lived in OR. We have opened a few accounts (SL and a car loan) while living here so I know those would be according to OR SOL. But what about the others? I don't think the 2 states have identical SOLS.

Anyone who can advise?

Thanks in advance!

---

They can go by where the account was taken out in OR where you live........usually they go by where you live.

Cali. is 4 years & OR  is 6 years

Message Edited by HappyDays on 01-10-2008 04:49 AM

[Anonymous]

Sorry, I'm not completely understanding this.

So, for example, we have an old collection on file. Here is the listing from the TU credit report:

Collection agency [?] Cal Svc Bur
Original balance [?] $349
Current balance [?] $349
Status [?] Not Reported
Date assigned [?] Oct 03, 2003
Date reported [?] Mar 04, 2005
Original lender [?] Med1 02 21st Century Ins Ep

Being that this was opened in CA and the CA SOL is 4 years, should this have come off or be coming off soon, or now that we live in OR it will report until 2009? (and yes-- we still do need to pay it-- it's scheduled for payoff in Feb 2008).

Thanks again for any help!

[Anonymous]

SOL (Statute of Limitations) and CRTP (Credit Reporting Time Period) are not the same thing.  SOL is how long they can legally attempt to sue you for the debt (and can win).  IF past SOL you have an affirmative defense (Past SOL) to have any legal action dismissed.  CRTP is 7-7.5 years

The creditor will use whichever state's SOL that benefits them - Oregon in this case (longer).

[Anonymous]

Lady Scarlet-- thank you! I did not understand that part at all and was obviously confusing the two (well-- thinking they were one in the same anyway).

So, let me understand then how I might go about attempting to remove this from the report would be to send a DV letter to the CA or contact the OC directly? If validated then I would request a PFD? Worst case scenario, pay it, it doesn't get deleted and then I send a GW letter?

This is a totally foreign concept to me so in my mind this is how this all plays out. Let me know if I am way off base in my thoughts.

Thanks again! I am looking forward to a cleaner credit report for 2008!

Message Edited by am911 on 01-10-2008 11:59 AM

[Anonymous]

DV the CA (leave the OC alone for now).  IF the CA does validate then see what happens - they may offer a settlement.