GW or PFD OC??

[guiness56]

Ohio statutes of limitations:

          Open Account (credit cards) 4 years 

          Written Contract: 15 year

          Domestic Judgment: 21 years (renewable)

          Foreign Judgment: 21 years (renewable

[Anonymous]

sorry but another stupid question... what does the Open Account 4 years mean?

[guiness56]

Not a stupid question!

Open accounts are revolving accounts like credit cards.

[creditwherecreditisdue]

Credit cards are open ended accounts.

If the SOL for CC's is four years you might want to wait before stirring the pot further. The consequences of doing otherwise could be a legal collection action.

[guiness56]

Do you know what the DOFD is for this account?  It should be well before the CO date of 8/07.

[Anonymous]

Ok so when does the 4yrs start... ok I just saw the post about the DOFD... which date in the TL should reflect the DOFD? and should I be looking at the date on the OC TL or the CA TL?

[creditwherecreditisdue]

The DOFD would be the date of the first late in the last string of lates before the account was CO'ed. This would come from the OC TL report.

[Anonymous]

Ok so the OC's TL from EQ is below... which one would be DOFD? If not how else would I be able to find it?

HSBC BANK

Account Number:

xxxxxxxxxxxxxx

Address Identification Number:

xxxxxxxxxx

Status: Transferred,closed. $295 written off. Status Details:

This item was verified and updated on Aug 2009.

Date Opened:

02/2006

Type:

Revolving

Credit Limit/Original Amount:

NA

Reported Since:

08/2007

Date of Status:

08/2007

Last Reported:

08/2007

Terms:

NA

Monthly Payment:

$0

Responsibility:

Individual

High Balance:

$584

Recent Balance:

NA

Recent Payment:

NA

Your Statement:

Account information disputed by consumer (Meets requirement

of the Fair Credit Reporting Act).

Creditor's Statement: Purchased by another lender.

Account History:

Charge Off as of Aug 2007 

[creditwherecreditisdue]

---

@creditwherecreditisdue wrote:
The DOFD would be the date of the first late in the last string of lates before the account was CO'ed. This would come from the OC TL report.

---

Look at the reporting of lates by month. You may need a full CBR to obtain this information. It is not shown on the myFICO EQ report.

[Anonymous]

Ok... I found this on an Ex that I pulled in 8/09. So the DOFD is Sept. 2006. So I should wait until after Sept 2010 before I take any action? So after that date (after SOL)  I can "poke the bee's nest" because if it goes to court I have a defense because the collection is outside of the SOL.... is that correct? We are hoping to purchase a new home next summer so if I have the funds available should I just pay the CA or is the possible bump in her score not worth it and would it be better to contact/pay after SOL so that I can verify the amount? FYI: Her score need to be at least 620 and currently its 580 (score watch EQ). She has a bunch of other stuff that I will be fixing ... a couple PFDs to OCs and a handful of medical TLs, both paid and not-paid, that I will be using the HIPAA process on.

One last SOL question.. would utilities be considered "open accounts"? 

HSBC BANK

Account Number:

XXXXXXXXX

Status: Transferred,closed

Date Opened:

02/2006

Reported Since:

02/2006

Date of Status:

08/2007

Last Reported:

08/2007

Type:

Revolving

Terms:

NA

Monthly Payment:

$0

Responsibility:

Individual

Credit Limit/Original Amount:

NA

High Balance:

$584

Recent Balance:

NA

Recent Payment:

NA

Creditor's Statement: Purchased by another lender.

Account History:

Charge Off as of Mar 2007, Feb 2007

150 days past due as of Jan 2007

120 days past due as of Dec 2006

90 days past due as of Nov 2006

60 days past due as of Oct 2006

30 days past due as of Sep 2006