SOL question

[ficonewbie01]

Does the SOL apply to the CA from the time they started reporting or DOFD with the OC?

Example: I have a CA reporting to the CRAs since 2007. The DOFD with the OC was in 2002. In my state the SOL is 5 years for open accounts.

Message Edited by ficonewbie01 on 05-18-2009 10:48 PM

[llecs]

DOFD with the OC.

It can also be reset with a payment since DOFD. YMMV based on the state you are in.

[Anonymous]

You need to check your state statutes to be certain when SOL begins.

It doesn't in any state, to my knowledge, ever begin with the CA's reporting date.

[ficonewbie01]

Thanks llecs and Sidewinder!

I have 2 accounts that the SOL has expired. I'm guessing since the SOL has expired it will be easier to dispute the CA? I will be sending a DV letter too.

There should be a signficant increase of my score once I get the 2 CA removed...especially the most recent one from 2007? They are the only 2 CA items left on my report.

Oops, I clicked on the accept solution by accident.

Message Edited by ficonewbie01 on 05-18-2009 11:04 PM

[Anonymous]

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ficonewbie01 wrote:

Thanks llecs and Sidewinder!

I have 2 accounts that the SOL has expired. I'm guessing since the SOL has expired it will be easier to dispute the CA? I will be sending a DV letter too.

Dispute why? SOL isn't a valid reason for disputing. They can still report once SOL has expired. SOL has nothing to do with reporting.

There should be a signficant increase of my score once I get the 2 CA removed...especially the most recent one from 2007? They are the only 2 CA items left on my report.

If they are your only negatives, expect a nice increase.

Oops, I clicked on the accept solution by accident.

You should be able to unmark it. If not, leave a note and a mod will do so if you wish.

Message Edited by ficonewbie01 on 05-18-2009 11:04 PM

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[ficonewbie01]

Dispute was a poor choice of word...I was up too late last night and wasn't thinking clearly.

My plan of action is to DV the debt that the CA allegedly claims I owe them. My concern is that I'd wake the sleeping giant and face a lawsuit..etc etc because it's within the SOL. Now that I better understand the SOL is associated with the OC and not the CA, it is a peace of mind to mail the letter.

Thanks!