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New Contributor
Posts: 61
Registered: ‎07-07-2008
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SOL - DOFD or DOLA

[ Edited ]
Hello,
 
I noticed a discrepancy or differing of opinion on whether the legal SOL is based on DOFD or DOLA.
 
It seems most agree the CRTP SOL is based on DOFD, but I've seem some say DOLA is more important that DOFD when considering the legal SOL.
 
Seems like DOFD would apply to both legal and CRTP SOLs?
 
Thanks
 
 
P.S. What is an FOAD letter (couldn't find it in the acronym section)


Message Edited by zro30 on 07-14-2008 04:57 PM
Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
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Re: SOL - DOFD or DOLA

Legal SOL = DOLA
CRTP = DOFD
FOAD letter = F off and die! ( I hope I don't get nailed for this)
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

New Contributor
Posts: 61
Registered: ‎07-07-2008
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Re: SOL - DOFD or DOLA

[ Edited ]
I see now what an FOAD is (a little embarassed now for asking!)
 
As far as DOLA, it's hard for me to tell because the TL in questions already aged off my CRs (noted in previous thread).  I checked an old TU report and it says the TL is due to fall of in 11/2007, how do I determine the DOLA from that?
 
Also, is the SOL based on the state the credit was original acquired, or current state of residence?
 
Thanks


Message Edited by zro30 on 07-14-2008 05:13 PM
Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
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Re: SOL - DOFD or DOLA

Was this a paid or unpaid collection (or CO)? If you made ANY payment, this can reset the legal SOL. Which states are involved? A CA can use either state, but you can bet they will use the state with the longer SOL.
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

New Contributor
Posts: 61
Registered: ‎07-07-2008
0

Re: SOL - DOFD or DOLA

This was an unpaid CO.  From my old reports, it seems as though my DOFD and DOLA are both 02/2001.
 
The states involved are CA, which is 4 years, and MA which is 6 years.  I don't have many records, but I know there weren't any intermittent payments.
 
The TL was deleted from my CRs by the CRAs around 2 years ago.
Moderator Emeritus
Posts: 16,373
Registered: ‎03-12-2007
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Re: SOL - DOFD or DOLA

If the DOLA is 02/01 you're safe. Congrats! I still get letters from JDBs and I ignore them. There just hoping to trick some sucker into paying one of their 1m dead assets.
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

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