when is a debt legally required to be posted?
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Posted by millenko (63.203.86.156) on June 04, 2002 at 13:01:00:
I'll try and explain this as simply as possible. I have a debt to a school (not a school loan, this is a debt directly to the school) I last attended in 1994. My credit report lists the debt in 1997. I attempted to follow the wording of the FCRA and from what I can gather, the debt is valid for 7 years after the original 180 days when I went into default...but there was an exception for debts incurred before 1996. My reasoning would say that the original debt was owed in 1994, and the SOL would expire approx. in 2001. However, because the date is listed as 1997, the SOL wouldn't expire until 2004? What, if anything, can I do about this? Thank you in advance for any advice!
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