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sol-home purchase VS. past CC debt-why chat or anyone

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Posted by steve ( on November 05, 2002 at 04:24:08:

I've got Credit card debt-Last payment 05-1998. It's all in California. 10 accounts that have either been charged off or in collections. I was just approved for a home loan. I need to put 35% down. Finance will be at 7.75 This is fine.

Question-Once I finalize everything, I assume my creditors/colectors will come out of the woodwork. They'll be seeking there share. Right?

1)What do I tell them?

I've read in here that California's SOL starts from last payment. Not 180 days from last payment.

2)Is this 100% true?

Also, one account was a line of credit from a well know bank.

3)Is that the same as a credit card?

4)also, is 7.75% the best Im going to get?

please give all details what I should be expecting? Ive talked with lawyer after lawyer, everyone has a different theory.
5)Why is this so difficult?

Either they can legally sue, or they can't.. there shouldnt be a gray area. should there?

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