Re: heres what suzie orman said about the sol
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Posted by Why Chat (12.77.181.51) on December 03, 2002 at 08:15:48:
In Reply to: heres what suzie orman said about the sol posted by mike on December 03, 2002 at 05:53:31:
Susie is somewhat incomplete in her information.
Credit cards are "open accounts" the SOL in most States is 3-6 years, excepting Wyoming (8 years) and RI (10 years). It is true that MOST States start the SOL with your first delinquent or "late" month prior to charge-off, but SOME States start with your last payment or charge on an ACTIVE account. Payments on the account AFTER chargeoff DO NOT extend the SOL unless the account has been completely rewritten with a legally acceptable contract.
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