04-18-2011 02:47 PM
Expiration of an SOL has zero to do with credit reporting. SOL is a legal issue. Some SOLs limit whether they can even bring legal action after its expiration, while others permit the intiation of legal action, but permit you to appear in court and raise the absolute legal defense of expiration of the SOL, and thus dismissal of the legal action by the court.
Either way, expiration of the SOL is not a basis for preventng additional, accurate reporting to a CRA, or for requiring deletion of prior, accurate reporting.
They are simply unrelated.
04-18-2011 03:16 PM
Ok, submitted a question.. also wasted some time reading other people's letters. It seems like a collection of the whiny majority, with a few legitimate gripes mixed in. We'll see how it goes.
04-18-2011 06:35 PM
I have a baddie from 2006 for a Verizon home phone. The usual; moved, thought I was PIF and was collection by the time they found me. I should have left a forwarding address. Funny thing, V wireless knew where I was, but not V residential. guess they don't talk much.
I paid it before I knew about PFD, and now still have that lil baddie on my report. I picked up some chatter about a two year SOL for Telecommunications debt. Is that state by state? The debt was NJ but I am in CA now. Which state applies, and does anyone here know the rules?
If it is a two year SOL, does that mean I can get it removed from my report? Has anyone here had luck with this?
Please let me know if you have the information.
As others have pointed out, the SOL is now irrelevant as you have paid.
However, just to set the record straight, the two-year SOl for telecommunications debt is an old wives tale. That SOL does not apply to consumer debt.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO