Re: Help understanding Sears: what to do??

Posted by jm10101 (198.80.152.108) on April 11, 2002 at 11:09:39:

In Reply to: Re: Help understanding Sears: what to do?? posted by Linda on April 11, 2002 at 10:10:27:

From the Bad Debts and Charge Offs page:

As per the Fair Credit Reporting Act, a charge-off, whether paid or not, can remain on a consumer's credit reports for up to seven years. The time limit is based on the date of the original delinquency (i.e. when the debtor missed a payment and never again became current), not the date of the last activity. Thus, post-charge-off payments should not "re-start the clock." See our article on Bad Credit Time Limits for details.

Doesn't this mean the SOL is date of original delinquency, plain and simple?

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