topic SOL Question in Rebuilding Your Credit

SOL Question

Client9 — Mon, 19 May 2008 17:54:57 GMT

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?

Re: SOL Question

Anonymous — Mon, 19 May 2008 18:45:10 GMT

The company can use which ever they please...

Re: SOL Question

Anonymous — Mon, 19 May 2008 20:35:47 GMT

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.

Re: SOL Question

Client9 — Mon, 19 May 2008 21:40:55 GMT

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