Does anyone have any personal experience or knowledge about how tolling works with state statutes of limitations on debt? I originated a car loan in 2005 in a state that has a 6-year SOL, and allows that SOL to be tolled while someone is out of state. Unfortnately that loan terminated with a repo and C/O. The DOFD on that account was 01/2008. In 2007 I moved to another state that also has a 6-year SOL, and have lived there ever since.
Does anyone know whether the SOL in the original state has been tolled this whole time? I don't have any plans to move back anytime soon, but I'm just wondering whether I could still be at legal risk sometime down the road.
This account is also not being reported correctly to the CRA's, so I'm about to send a direct dispute to the creditor to try to fix the DOFD (they keep reporting it as 05/2010 for some reason, which prevented it from falling off this month as it should have).
Starting score 3/30/13: 570s across the board
@Jamex wrote:Does anyone have any personal experience or knowledge about how tolling works with state statutes of limitations on debt? I originated a car loan in 2005 in a state that has a 6-year SOL, and allows that SOL to be tolled while someone is out of state. Unfortnately that loan terminated with a repo and C/O. The DOFD on that account was 01/2008. In 2007 I moved to another state that also has a 6-year SOL, and have lived there ever since.
Does anyone know whether the SOL in the original state has been tolled this whole time? I don't have any plans to move back anytime soon, but I'm just wondering whether I could still be at legal risk sometime down the road.
This account is also not being reported correctly to the CRA's, so I'm about to send a direct dispute to the creditor to try to fix the DOFD (they keep reporting it as 05/2010 for some reason, which prevented it from falling off this month as it should have).
Since you had already moved prior to the accounts DoFD SOL of the state you moved to and still live in would apply, states have what are called borrowing statutes which allow you to use your home states SOL, IMO there would be no problem moving back to the state you moved from as long as SOL has passed in the state you now live in.
Thanks so much for the quick, and informative responses guys. Really appreciate it. Also nice that all of what you said is favorable in my case. Quite a relief. 
Now I just have to actually get the OC to acknowledge that the DOFD needs to be corrected to 01/2008. Can't imagine they'll be happy about that since it means it should fall off my reports immediately, but I can handle pretty much any nastiness they send my way short of a summons. And sounds like they no longer have that option - thanks again for all the help.
Thanks for the added insight, Robert.
Could you expand more on what you mean in point 1. Do you mean that the account would stop showing as a C/O'd accoujnt but still show up as a tradeline on my CR? Do you mean that the C/O notation would be gone, but the past-due amount would still be showing? I thought the whole tradeline would be excluded after 7 (or 7.5) years from DOFD.
@Jamex wrote:Thanks for the added insight, Robert.
Could you expand more on what you mean in point 1. Do you mean that the account would stop showing as a C/O'd accoujnt but still show up as a tradeline on my CR? No Do you mean that the C/O notation would be gone, but the past-due amount would still be showing? No I thought the whole tradeline would be excluded after 7 (or 7.5) years from DOFD. It will be completely excluded at most 7.5 yrs from the DoFD