Re: OC and SOL

Posted by Why Chat (209.240.198.61) on December 19, 2002 at 14:01:40:

In Reply to: OC and SOL posted by anonymousquestion on December 19, 2002 at 07:52:14:

I hope this won't confuse you further, however, the answer is, It Depends

If the OC has reinstated your account and allowed you to be considered "up to date" with your regular monthly statement showing the account as in full force, with nothing past due and no late charges, then yes, the SOL for both being sued and your credit reports will be from the NEW default date.

However, I do not think it is what happened in the example you gave, since an account that has been charged off cannot be "re-aged". Also, once it was charged off, and you were making payments, it would not have normally been on a regular monthly statement.

Your Experian report would likely be the best guide for your SOL at this point, if they show a "come-off" date, deduct 7 years and 1 month from that date.

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