CT SOL

[Anonymous]

Have an unpaid CC with last activity registered as Sept 2005. Credit company closed in in March 2006. Does this just go away with SOL at some point (connecticut)? Or should I open a can or worms and reach out directly to CC to try to repay? Its heavy amount- $10K plus..

[pizzadude]

SOL is what you would assert If a CA sues you for this unpaid debt. It does not prevent CAs from attempting to collect it, it just gives you a valid defense in court.

The item in question will remain on your CR for 7.5 years from DOFD, assuming that it was charged off.

[laz98]

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@pizzadude wrote:

SOL is what you would assert If a CA sues you for this unpaid debt. It does not prevent CAs from attempting to collect it, it just gives you a valid defense in court.

The item in question will remain on your CR for 7.5 years from DOFD, assuming that it was charged off.

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+1.  The CA can try to get money out of you forever.

[Anonymous]

Thanks. It is a charge off.

So after 7.5 years after first delinquincy (assuming forst late payment on record?) all the account information for that account is simply removed from all  credit reports? Strange as I still have items on my report from 10-12 years ago...?

[MarineVietVet]

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@Anonymous wrote:

Thanks. It is a charge off.

So after 7.5 years after first delinquincy (assuming forst late payment on record?) all the account information for that account is simply removed from all  credit reports? Strange as I still have items on my report from 10-12 years ago...?

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The 7-7.5 year credit reporting time period is for negative items. And once that CRTP has expired the items can never again be legally put back on your reports.

Now postive accounts generally report for up to about 10 years after being closed although if you're lucky they will remain after that 10 years. If you have any negative items still reporting after 10-12 years you can get them removed as being past the CRTP.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".