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Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
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Re: Pissed off

Yes, paying on the account resets SOL.

Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009
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Re: Pissed off

So if it resets the SOL, then in Pennsylvania  the SOL is 5 years.  This was paid off in January 2008.   I currently live in Texas where the SOL is 4 years.


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
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Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: Pissed off

If you paid it off, then there is no SOL. It's paid off.

Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009
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Re: Pissed off

So then the question is why is this still on my credit report. 


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

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Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: Pissed off

SOL has nothing to do with reporting. SOL is the time frame they have to sue. The reporting time period is 7-7.5 yrs and is called CRTP (credit reporting time period). It's set by the Fair Credit Reporting Act.

 

You said it isn't reporting as a CO or a CA. As RobertEG mentioned, is it a negative? Maybe it's a positive account, which can report for longer and actually help your credit.

Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009
0

Re: Pissed off

its negative because I have 18 late payments before 2008.  So its hurting me than helping.


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

Take the FICO Fitness Challenge



Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
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Re: Pissed off


jadeite788 wrote:

its negative because I have 18 late payments before 2008.  So its hurting me than helping.


Unfortunately, my best guess is that each late will drop off when it the lates hit  7 years.. in sequential order.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009
0

Re: Pissed off

uggghhhhhhh.....figures


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

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Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Pissed off

+1  If it's just lates that reporting, and it's not been charged off, each late has it's own CRTP which is 7 years.  Sorry.  :smileysad:


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009
0

Re: Pissed off

it sucks because I wanted to get a house this year, and I don't have anyything really on my transunion credit report.  That is really hurting my score, and I really think its unfair.


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

Take the FICO Fitness Challenge




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