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1997 reform of FCRA
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Posted by Teri (63.208.28.208) on July 25, 2002 at 21:39:27:
I read in a post that defaulting on acct prior to 1997 reform could pose a problem, but what kind of problem? Most of my debt became delinquent right around 1997 possibly before. I was hoping the SOL would save me. From what I have gathered it seems I may be sued anyway but can use sol as defense. Also, I am fuzzy on the validation issue but am I right to think that I must send out validation letters before I can begin using sol to my advantage? What exactly is a validation letter? I saw it on Whychat site but still not clear. I havent been called by Ca in a couple of years and now the phone is ringing off the hook. Makes me wonder if they know something I dont like maybe my SOL isnt quite up yet. I want to get my defense going. Sorry for making this so long, but seemed necessary to give jist of situation. Thanks in advance for any help offered.
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