Confused about a SOL issue.

[sudofdisk]

Forgive me if this is a simple question, but I am still wrapping my mind around some concepts here. On my credit report are 8 entries (some look duplicate) that are all similar to the following format:

Creditor Name: LML PAYMENT
Account No. ????*** (the ?s are numbers)
Original Creditor: 07 ELEVEN INC
Responsibility: Individual
Condition: Derogatory
Original Balance: $XX
Balance: $XX Date
Opened: MM/DD/2001
Date Reported: MM/DD/2005


The dates are scattered around a 5 month period of time. The amounts range from about $50 to $100. I do not recognize these charges and they started around the time I left my ex-wife and left the state.

My goal is to get my credit score as high as possible in the next year so that Fall/Winter 08 I can buy a house.

What is my best move here? Does the SOL start from the "date opened"? Or from "Date Reported"? Should I DV them and be prepared to offer PFD? Let them fall off? If it matters I live in Colorado.

Message Edited by sudofdisk on 04-17-2008 06:49 PM

[llecs]

SOL starts from DOFD, which isn't showing. In fact, I never trust what the report says. The best and most surest method to determining DOFD is to order the CR directly from TU and EX. On those original reports (not the ones from here) there is a line with each account that says "estimated date for removal is xx/xx/xxxx", or something like that. Take that date and subtract 7 years. That earlier date is the DOFD as read by the CRA. You would have to call EQ to get theirs.

If all 8 mentioned accts are CAs, then DV them. But be forewarned that you would be shaking the hive, if you know what I mean, and expect a flurry of CA activity. IMO, have $$$ in hand before you DV. If they validate and you agree on the balance, then offer a PFD in full.

[Anonymous]

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sudofdisk wrote:
Forgive me if this is a simple question, but I am still wrapping my mind around some concepts here. On my credit report are 8 entries (some look duplicate) that are all similar to the following format:

Creditor Name: LML PAYMENT
Account No. ????*** (the ?s are numbers)
Original Creditor: 07 ELEVEN INC
Responsibility: Individual
Condition: Derogatory
Original Balance: $XX
Balance: $XX Date
Opened: MM/DD/2001
Date Reported: MM/DD/2005

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With the OC being 7 Eleven......I am going to assume this is a returned check........some states have seperate SOL pertaining to returned checks.

Also, if date open is 2001.......that is likely the date that the CA received the account, meaning the DOFD is before that date and the 7 year CRTP is nearly over.

Have you pulled your reports from www.annualcreditreport.com ? They show when the accounts will be removed.