Statute of limitations

[Anonymous]

Is this the number of years your account has been in default for nonpayment or the amount of time its been open.. Default right?  Sorry to annoy I'm just checking.

[Anonymous]

SOL time computation usually begins at the date of last payment.

Different states have different rules about this and what restarts SOL. Check your state's statutes to be certain.

See the "State Resources" link in my signature.

[Anonymous]

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@Anonymous wrote:
Is this the number of years your account has been in default for nonpayment or the amount of time its been open.. Default right?  Sorry to annoy I'm just checking.

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Not annoying a bit!

SoL begins on the day of the first missed payment, for all intents and purposes. So the "default" technically begins on that day. So if your payment was due on, say January 1st, the SoL would begin January 2nd.

Now, credit reporting "SoL" or rather, time period, usually begins 6-9 months AFTER that point. Just thought I'd mention that.