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The Master Understanding SOL and 7 Year Reporting Thread There is often much confusion on SOL, restarting SOL, and the 7-year/ 7.5-year rule for reporting. Hopefully, this thread can be of some help and answer some of your questions. I will discuss SOL and Credit Reporting separately, so some of your questions not answered in the first part may be answered in the second. This info in this thread is generally aimed at credit card debt, but the basics may apply to other debts. If there is anything I missed please feel free to add to the thread and if you find that I made a mistake, please le
Hi All, I'm looking for some advice with my husband's credit report... He had a repossession for a little over $7K the loan was through Cap 1 Auto 8/2007. Seven years should have been last month 8/2014. This is showing on all 3 of his reports EX, EQ and TU. However, we just pulled all three of his reports and it looks like it was sold two years ago to Portfolio Recovery. By the way we are in PA. Questions: 1) Because it was re-sold, does it restart the 7 years SOL? 2) How should we go about disputing this? 3) Who should we address the letter to? The bureau's, Cap 1, or Portfolio
Okay I have a collection that is scheduled to fall off in Nov of this year. My lender keeps bringing this up she said that even though its coming off it is still my responsibility. The bill is for 633.00 hospital bill and this bill hurts every time I see it on my credit report. To make a long story short my son went to the children hospital in my area ER, they didn't find anything wrong. A week later he went back to the ER for the same issue and was admitted. Because they did not discover this issue the first time he has to live with a condition for the rest of his life. My insurance
Has anyone experienced OC debts falling off earlier than what their CR states? I'm going to be paying off some debts but some are due to fall in 2014 and 2015. So I'm just wondering if I should attempt to say these debts are pass 7 years even though I might be 6 months or so ahead of what the CR states. Just wondering....