Question about SOL / CCCS
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Posted by CC Collector
(12.220.80.168) on August 25, 2002 at 02:50:55:
Ok... as I understand it, when negative CBR items (default in load, bankruptcy, settlement) are reported to a persons CBR, it lasts seven years, according to the SOL? Is this determined by the state the credit card issuer is locared in, or the state the debtor lives in? Also, different states have different SOL, so why is seven a constant #? Also, Financial Rescue is apparently some time of unique program because whenever a customer tells us they are going with Financial Rescue we immediately take legal action. I believe it has something to do with a settlement process. Any ideas on what I'm talking about? About CCCS... it usually drops interest to 10%, stops fees, stops calls, and closes accounts so they can be paid off in a couple years. Is this a good thing or a bad thing according to a credit reviewer, such as when you buy a house? People I collect from often ask me this question and I tell them that it looks best on your credit report if you can pay your bills on your own, without outside help.
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