I currently have two (2) utility collections from 2015 on my record (from a time in my past where a partner royally screwed me over) as well as missed payments reported on two (2) other accounts. All from 2015. Of these 4 accounts, one is open.
5/2015 - IDA Power - $41 PAID, $0 balance - closed. 6/2015 - CITY of Na - $119 PAID, $0 balance - closed. 5/2015 - 6/2015 - RCWilley CC - 30/60 past due. Currently reporting a $0 balance and open.
2/2015 - 10/2015 120-180 days delinquent - Dept of Ed - closed.
These all occured in Idaho which states "Open account: This is an account with a changing balance such as a credit card. Four years from date of default. Written contract: A loan that requires you and the creditor to sign a document such as a car loan. Five years from date of default." for their statute of limitations. I can't seem to find anything for "closed"? (To be frank, SOL I don't quite understand)
Am I in a position at all to request the removal of these collections since I paid them off? They are the ONLY negative accounts I have. What exactly does this 4 year SOL mean? Does it apply to any of my collections/delinquencies?
I am currently in the process of deciding whether or not buying is ideal for me right now. I have been looking at places to rent, which sparked my initial question regarding the utility collections and if they would be reason enough for denial for both buying/renting. I understand that to some this is probably one of the biggest red flags (I have been approved for renting in 2017 but not for the same quality/price I'm looking at now).
My Dept of Ed account now is current and I have never missed a payment. I, in fact, haven't missed any payments on any of my accounts since 2015...I feel like this should help my case if anything?
What can I do about these 4 negative items? If anything at all.
The 4 year SOL means they cannot sue you for the balance after the 4 years is up. So this year whatever month you became default they will not be able to sue you. 7.5 years from the month in 2015 you became default it will fall off your credit reports.