Re: SOL

Posted by Why Chat (209.240.222.130) on July 04, 2002 at 12:29:59:

In Reply to: SOL posted by Jessica on July 03, 2002 at 18:44:30:

The SOL is a limit on how long a creditor, or anyone the account has been sold to, has to file suit against you and get a judgment. In Ill. for credit cards, that time limit is 5 years from the time you first went late on the account before it was charged off and sent to collections.You will ALWAYS still "owe" the money, but the collection is past the time it can be legally enforced.

Follow Ups:

Post a Followup