SOL Question please!

[Raisingthescores]

Quick qestion... The SOL for my state is 4 years in Texas.  I have quite a few old debts(DOFD 01/2009 for nuvell- a reposession totaling 18386, and Famsa that is reporting no balance or information of anykind just a DOFD begining 11/2008)

So my question is:  Is the SOL the time that the creditor has to sue me, or the amount of time that they can report it on my credit and take action for it?  What is the 7 year thing I see? Does the debt have to stay on my credit 7 years before falling off? or does the SOL mean that after 4 years I can have this debt removed?

[jojomomma]

SOL  is the amount of time the creditor has before they lose the right to sue you for the debt...

The negative tradeline can remain on your credit report for up to 7, 7 1/2 years from the date of first delinguency.

[Raisingthescores]

Thank you so much!

[CAnNY]

SOL refers typically to the time frame a creditor has to sue you. The 7yrs you see is the max time a collection can show on your reports. However that time is actually 7-71/2 max. Now in my state of NY if you pay a collection in full it can not report no longer than 5 years on your reports. This falls under CRTP Credit reporting time period. Basically the item has to be removed. I am not sure what other states do this.

[Raisingthescores]

Thank you so much! I am not sure about mine either. I sent 9 PFD out for the mail in the morning.. praying this works! If not then I will just keep trying!