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Regular Contributor
Client9
Posts: 159
Registered: ‎03-13-2008
0

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?
Valued Contributor
slyhouse08
Posts: 2,340
Registered: ‎04-08-2008
0

Re: SOL Question

The company can use which ever they please...
Moderator Emeritus
HappyDays
Posts: 7,326
Registered: ‎06-18-2007
0

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.
Regular Contributor
Client9
Posts: 159
Registered: ‎03-13-2008
0

Re: SOL Question

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

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