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I have this BOA account on my credit report. It's now August 16 2015 and the SOL for being sued for CC debt in my state is 6 years. Does the start of the 6 year mark start at the last payent made date which was 8/8/09? Or is it when the account became closed which was 12/01/2009?
BANK OF AMERICA #*****
Date Opened:06/19/2008
Responsibility:Individual Account
Account Type:Revolving Account
Loan Type:Credit Card
Balance:$0
Date Updated: 11/17/2011
Payment Received: 0
Last Payment Made: 08/08/2009
High Balance: $2,291
Original ChargeOff:$2,291
Credit Limit: $2,000
Pay Status: >Charged Off<
Terms: Paid Monthy
Date Closed: 12/01/2009 >Maximum Delinquency of 120 days in 07/2009 and in 09/2009<
Remarks: PURCHASED BY ANOTHER LENDER; >UNPAID BALANCE CHARGED OFF< Estimated month and year that this item will be removed: 05/2016
I believe we have had this discussion before on one of your accounts. The SOL typically runs from the DoFD of the account barring any other laws that may say what the date is in your state that is does run from. The posting doesnt show the DoFD so you need to find out when it actually occured.
Thats why I am comfused. This post is from experian's site I highlighted my questions in bold in reference to my original post.
"The original delinquency date is the date the account first became delinquent and was not brought current. This date is used to determine when the late payment information is deleted from your credit report. If you obtain a report directly from Experian, each account will list the “date the account is scheduled to remain on file until,” MINE SAYS 5/2016" which is calculated using the original delinquency date as reported by the creditor. Simply subtract seven years from that date to determine the original delinquency date. OK I DID THAT AND 7 YEARS FROM 5/16 IS 5/2009" So is my DOFD May 2009? Why does the date on my CR show 8/8/2009 as my last payment made, wouldnt the DOFD be somewhere after the last payment made? Account was closed 12/1/2009. Maximum Del of 120 days says 7/2009 and in 9/2009".
The original delinquency date applies to the first late payment in a series. If an account were to become late today, the payments were never brought current, it was charged off as bad debt, closed and sent to collection, then the original delinquency date would be today’s date. Even if the bad debt was eventually paid, seven years from today’s date, the closed account and the subsequent collection account would be deleted. Thanks for asking."
@Outdoorstech1 wrote:Thats why I am comfused. This post is from experian's site I highlighted my questions in bold in reference to my original post.
"The original delinquency date is the date the account first became delinquent and was not brought current. This date is used to determine when the late payment information is deleted from your credit report. If you obtain a report directly from Experian, each account will list the “date the account is scheduled to remain on file until,” MINE SAYS 5/2016" which is calculated using the original delinquency date as reported by the creditor. Simply subtract seven years from that date to determine the original delinquency date. OK I DID THAT AND 7 YEARS FROM 5/16 IS 5/2009" So is my DOFD May 2009? Why does the date on my CR show 8/8/2009 as my last payment made, wouldnt the DOFD be somewhere after the last payment made? Account was closed 12/1/2009. Maximum Del of 120 days says 7/2009 and in 9/2009".
The original delinquency date applies to the first late payment in a series. If an account were to become late today, the payments were never brought current, it was charged off as bad debt, closed and sent to collection, then the original delinquency date would be today’s date. Even if the bad debt was eventually paid, seven years from today’s date, the closed account and the subsequent collection account would be deleted. Thanks for asking."
Most likely an error in reporting. The scenario you have posted is correct this month would be 30 days and the accepted DoFD. You cant really ascertain it from a payment history, you can either call the CRA to get the reported DoFD and keep records of it or contact the creditor to obtain the DoFD.
I will have to call the Creditor. I ask cause i want to be sure it is pass my states statu of limitations to sue