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SOL Question

Regular Contributor

SOL Question

say you get a CC in a state with a 3 year SOL then drop off, but you move to a state that has a 10 year SOL.  What takes precedence?
Message 1 of 4
3 REPLIES
Valued Contributor

Re: SOL Question

The company can use which ever they please...
Message 2 of 4
Moderator Emeritus

Re: SOL Question



Client9 wrote:
say you get a CC in a state with a 3 year SOL then drop off, but you move to a state that has a 10 year SOL.  What takes precedence?



They can file suit in either state & you better believe that they will use the longest SOL. You used the words *fall off*   If you meant that it drops from your CR in 3 years or whatever SOL is....you are incorrect. SOL is only the time in which a creditor can sue you.  CRTP which deals with the length of time something is on your CR
 
If you had a CC and stopped paying for it....it would remain on your CR as a CO  for approx 7 years from DOFD.
Message 3 of 4
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Regular Contributor

Re: SOL Question

My question was only a hypothetical.  Just something I was wondering about.
Message 4 of 4