DV reply from a different CA

[crapandgarbage]

different question: for something purphased 12, 18, or 24 months no interest no payments what is the DOLA?   Does activity start when first payment is made after promotion?  or starts when it is reported as pays as agreed by creditor before any payments are due.

[Anonymous]

What you shoud be worried abou is the date of first delinquency.  Thats the first 30 day late when you stopped paying.  If you missed random payments before had the clock is reset once you become current.  Say you opened it in 2005 and paid it til Oct 2006.  You would have been 30 days late Nov 2006 that is when your clock would start.  It will be removed from reporting 7 years after that date or Nov 2013 the SOL or time period in which you can be sued for the debt varies from state to state.

[Anonymous]

DOLA is the date of last activity....when you last made a payment

examp:

paid jan 2005........DOLA 1/2005  nothing after this date.

Paid jan 2005.......DOFD 2/2007  this was the first missed payment and no more was made or they were but you never became current.

Message Edited by HappyDays on 12-04-2007 07:19 PM