Re: SOL plus 180 days?

Posted by Linda on October 12, 2001 at 00:04:08:

In Reply to: SOL plus 180 days? posted by Barbara on October 11, 2001 at 23:23:01:

That is specifically mentioned in the Fair Credit Reporting Act, and it defines the "Date of delinquency" as it regards the "7 year reporting period" (that's how long the credit bureaus are allowed to report derogatory information.)

That is very different than the statute of limitations. For one thing, the FCRA is Federal law. Statutes of limitations are state laws, so they can be different in each state, and the date that they start counting can be defined differently in each state. Matter of fact if you read the Q & A below this, Florida says it can be different in different situations.

So, in short, don't get the "7 yr reporting rule" mixed up with the "statute of limitations." :)

I hope this makes sense.

Linda

Follow Ups:

• Thanks, Linda , and a few more questions Barbara 10/12/01 (3)
  • Re: Thanks, Linda , and a few more questions JJ 10/12/01 (2)
    • Re: Thanks, Linda , and a few more questions Linda 10/12/01 (0)
    • Re: Thanks, Linda , and a few more questions Linda 10/12/01 (0)

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