heres what suzie orman said about the sol
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Posted by mike
(67.24.124.114) on December 03, 2002 at 05:53:31:
The statute of limitation is the length of time someone has to sue you if you do something wrong, such as cause an auto accident or break a contract, including an obligation to pay debt. In every state the statute of limitations for credit card debt begins to tick from the date you failed to make a payment that was due, as long as you never make another payment on that credit card account. If your state's statute on credit card debt is seven years and your last payment was due on January 10, then the statute of limitations on your debt will run out seven years from January 10, assuming you haven't made another payment.
http://www.suzeorman.com/resources/managingdebt.asp?section=sol
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