Re: Question regarding SOL and CR entries

Posted by Christine (24.244.136.198) on June 04, 2002 at 10:46:58:

In Reply to: Question regarding SOL and CR entries posted by Concerned on June 04, 2002 at 10:33:03:

The date entered is the date you received the loan or credit card.

The date of last activity is the last payment received, this is the date that is calculated into the seven year six month reporting period on your credit report.
The SOL is determined by the State you signed the contract.
The SOL is in regards to legally how long a creditor can file a law suit against you. If the SOL is expired they can still try to collect the money but they can't sue you.
Your bad information can be removed around 2005 (depending on the month as well as year of last activity)

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