Old Charge Off - When is SOL and 7 years due?
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Posted by Sean (134.134.248.28) on May 28, 2002 at 13:58:02:
Linda and others, I wanted to be sure before taking any actions after Dec'02. This is an old post but never get an answer for the SOL vs 7 years report. When is SOL due? from charge off date or last deliquency date? And, when does 7 years reporting at CRA expire? last deliquency(Nov'96+7 years) or Charge-off date ( May'97+7 years)? I have been watching here and good advices!!! Thx. I have about 6 year old $3100(last deliquency in November 1996 and charge of in April 1997) credit card debt and in Oregon. SOL in Oregon is 6 years. I am financially in good shape and could pay the amount. But, collection agencies several times bought and asked for money in ~$6000. Now, is it wise to settle or wait for SOL to expire than settle? I would like to buy a home and remove this from credit records. And, SOL starts from last deliquency date, not charge off date, right? Thanks for help!
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Follow Ups:
Re: Old Charge-Off Debt Help Linda 03/30/02 (2)
Re: Old Charge-Off Debt Help sean 03/30/02 (1)
Re: Old Charge-Off Debt Help Why Chat 03/30/02 (0)
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