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Hi Folks,
I have an Auto repair bill (transmission repair) that is 8 years old, can't I have this removed due to the CA SOL laws of 6 years? Funny thing, I don't show anything below stating that it is in NEGATIVE standing or late, or unpaid?? Just say's "Condition: Open", can I get advice on how to have this removed or a sample SOL letter??
Thanks Friends!!!
@Anonymous wrote:Hi Folks,
I have an Auto repair bill (transmission repair) that is 8 years old, can't I have this removed due to the CA SOL laws of 6 years? Funny thing, I don't show anything below stating that it is in NEGATIVE standing or late, or unpaid?? Just say's "Condition: Open", can I get advice on how to have this removed or a sample SOL letter??
Thanks Friends!!!
Pay HistoryOpened:08/01/2008Reported:11/01/2008Condition:OpenIndividual AccountLimit:$2,200Balance:$0Payment:$110Credit Type:Revolving Account
Why would you want this removed? It doesnt appear to be a negative! It should stay on your CR for 10 years....
If the acount/debt reported is on a repair bill, how/why is it being reporting as a revolving line of credit?
I dont see the connection between owing a bill and your use of a revolving line of credit......
Did you, for example, use a credit card to pay the bill, and were then late on your credit card payments?
Regardless, the expiration of a state SOL has nothing to do with credit report exclusion.
The state SOL determines the period within which a party must initiate legal action if they wish to obtain a judgment ordering payment of a debt.
Credit report exclusion applies to individual derogs reported under an account, and have set exclusion periods as defined under FCRA 605(a), such as 7 years from date of delinquency for a monthly late payment.
Whatever derogs may have previously been reported have apparently all passed their respective exclusion dates, as the posted report does not show any derogs.