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ca problems.help with sol.

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polskboy
Valued Member

ca problems.help with sol.

Hi i was informed by this forum that sol for ny is 6 years but is ca is going to come of from cr i 6 years or in seven?i have another question i have macys ca for 350$ from 2009 would you guys pay it of or just live it alone?thanx for help.
Message 1 of 9
8 REPLIES 8
gypsymama
Established Member

Re: ca problems.help with sol.

The SOL is the statute of limitations for your state and the time limit for them to sue you for the debt. The CRTP credit reporting time period is different and is how long it will stay on your credit report. This is usually 7 1/2 years from DofD for most things.

 

As for your collection I personally would pay it if it's legit. From 2009 it still has a ways to report on your CR and I'd want it off it at all possible. Even if it doesn't remove from the CR showing paid is better than unpaid when it comes to manual review for a mortgage or something.



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Message 2 of 9
gypsymama
Established Member

Re: ca problems.help with sol.

Oh and if your SOL is 6 years and the debt is from 2009 then they could still sue for another year or so. Just not worth the stress... if it was me and I had the money I'd just get it paid and be done with it. Is Macy's the OC that's reporting? I would try to pay the OC first and have it recalled from the CA (if there is one) and if not then just send CA PFD. Hopefully they'll remove it for you but at least you'll know it's done so they can't sue you.



Cap One Secured $200; Fingerhut $250; Venus $250; VS $500
Message 3 of 9
randyrhodes
Established Contributor

Re: ca problems.help with sol.

SOL has nothing to do with how long an item stays on your credit report. CRTP determines that. Most items will fall off at the 7 yr mark but some can stay on another 180 days. Some things like bankruptcy will stay 10 yrs. SOL is the regulation that determines how long someone has to sue you in civil court for recouping their losses.
If the debt is still reporting monthly then it won't do as much damage to pay it. Have you offered A PFD to the debtor?
Message 4 of 9
polskboy
Valued Member

Re: ca problems.help with sol.

No didnt offer pfd.its not reporting monthly its just there.
Message 5 of 9
polskboy
Valued Member

Re: ca problems.help with sol.

How you do pfd?if i pay in full do late payments come off as well,macys is over 5 years old.
Message 6 of 9
DaBears
Senior Contributor

Re: ca problems.help with sol.

PFD would be paying the debt in return for the CA to delete their trade line from your credit reports.

Message 7 of 9
polskboy
Valued Member

Re: ca problems.help with sol.

Should i call or write?
Message 8 of 9
DaBears
Senior Contributor

Re: ca problems.help with sol.

Message 9 of 9
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