about sol!

[Anonymous]

I live in Michigan which I believe is 7 years.

I am currently paying $120 month on an old credit card. Under 7 years it will fall of march 08, but on annualcreditreport.com it says 2011 what gives? If it is really going to fall off should I continue to pay or let it go and pay when I can?

[Anonymous]

As you are paying on it the MI SOL does not apply as you have been paying on it. This effectively resets the SOL.

The account should be removed for the CR 7 years after DOFD (First missed payment to cause the status to change).

If it says 2011 it means the company has changed the status to "OK/Current" That 2011 date is when it will change to a positive status.

[Anonymous]

So I screwed myself is what you are saying?

[Anonymous]

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@Anonymous wrote:

So I screwed myself is what you are saying?

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Well- Depends

You have some good moral fiber in you to resolve your past credit issues.

At this point in your journey keep paying it off and all the lates will drop off in a few years and you will have a good TL for 10 years after it is paid off.

the late are 3+ years old now and this account it helping more than hurting you Score.

If you stopped paying it they WILL SUE you.

[Anonymous]

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joemc3 wrote:

I live in Michigan which I believe is 7 years.

I am currently paying $120 month on an old credit card. Under 7 years it will fall of march 08, but on annualcreditreport.com it says 2011 what gives? If it is really going to fall off should I continue to pay or let it go and pay when I can?

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Sol might change but CRTP does not change...7-7.5 yrs from DOFD

Was this a CO??

Message Edited by HappyDays on 08-27-2007 02:51 PM

[Anonymous]

It is a charge off and i was originally opened in 01

[Anonymous]

the open nor report date mean anything...what is the date closed by OC...your DOFD is usually before that    like last payment