First Premier Bank could this be possible???

[Pastryprincessnails]

I have a balance with them of $436 the dofd is from 2008 I read that because I live in ny if I pay it and it was a charge off it will be removed after 5 years which is this year? If so please let me know this is one of the last 3 things on my report...

[DaBears]

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@Pastryprincessnails wrote:
I have a balance with them of $436 the dofd is from 2008 I read that because I live in ny if I pay it and it was a charge off it will be removed after 5 years which is this year? If so please let me know this is one of the last 3 things on my report...

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SOL in NY is 5 yrs which means they can't legally sue you once the SOL has expired. 

[Pastryprincessnails]

So after I pay and it's been 5 years they would have to delete correct?

[Shogun]

In the state of NY, they also have a rule that paid COs, etc. will be deleted after 5 years, vs the 7.5 years of the federally mandated CRTP.  So yes, if it's paid, and it's 5 years old, it will be deleted.  Sometimes you have to remind the CRAs that you live in NY.  

[guiness56]

Just make sure it is PIF and not settled or at least says PIF.  One of the CRAs, I can't remember if it is EX or EQ, won't remove it if it is settled. They say the statute says paid.  Which it does, they are just reading too much into the statute as settled is paid.

[Shogun]

I believe it's EX that's a PITA with that one Guiness.  They read it as it having been paid, not settled, for the 5 year rule.

[guiness56]

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@Shogun wrote:

I believe it's EX that's a PITA with that one Guiness.  They read it as it having been paid, not settled, for the 5 year rule.

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I thought it was but wasn't sure. 

[Pastryprincessnails]

Uggghhh they offered me a settlement

[guiness56]

See if they will annotate paid in full for the settlement.

[Pastryprincessnails]

Will do