04-06-2012 08:34 PM
About two or three years ago I paid off a debt, and they agreed to remove it from my credit report. I have a letter from them saying they would completely remove the debt from all credit reporting agencies. I was not taking a proactive step at that time to actually make sure that they did what they said they would. The SOL is 6 years. If I dispute this, will it restart this? I don't want to lose the dispute over a technicality or something and then I restarted the clock on this.
04-06-2012 08:47 PM - edited 04-06-2012 08:50 PM
04-06-2012 08:48 PM - edited 04-06-2012 08:49 PM
Be sure not to confuse SOL with CRTP. SOL is the time frame a creditor has to sue you for an unpaid debt. There is nothing you can do at this point to ever reset SOL because it is paid. SOL is over. The credit reporting time period (CRTP) is 7-7.5 years and assuming for a second that you were referring to that, a dispute will not reset the time clock on CRTP (or SOL if the debt was unpaid).
ETA....slow typing skills have the best of me yet again.