@Anonymous wrote:
Help need reliable informati on. BK13 dismissed, cc accts shows charged off and closed. These accts. Are past the S of L or at the point of S of L., why are A:womanindifferent AMEx and Disc.
Still reporting as past due and showing balance. If past S of L can I ask the CRA to remove such info?
SOL != CRTP (what you are requesting info about)
SOL is the Statute of Limitation for your state (either of residence or where the debt was originally contracted). This is the time limit, starting with DOFD, whereby a creditor can sue you in court and receive judgement to collect a debt from you. Outside of this time frame, usually 4-6 years depending on the state, a creditor can sue you but you will have an affirmative defense in court against the complaint and it will be dismissed for being too old.
CRTP (short for Credit Reporting Time Period) is the period of time a negative entry may remain on your credit report. This is set by Federal law under FCRA as DOFD plus 7/180 (7 years, 180 days). Once a negative item reaches this age, the CRAs are required to purge it from your report. If a debt is less than 7/180 from DOFD, CRAs will not delete unless there is an error in reporting that is disputed with the reporting party (OC or CA).
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