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sol clock on reg collection, not chargeoff
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Posted by NC
(208.190.181.225) on February 11, 2003 at 16:54:45:
Hello, I have a question about a couple collections I just paid. I know that the sol for reporting doesn't start over if payments are made on a charge off, but if it is just a collection account does paying it off start the clock again? For instance, I just paid an old med collection off. It is supposed ot fall off in July of this year, but a loan approval was pending payment of this. Now, by paying it, I know the date of last activity changes to the dat I paid it. The collection agency told me that it doesn't start it over, but I know that I can't believe everything they tell me. I am just wondering what to expect and if there are any legal statues I can quote to them if they DO re-age it and start the clock over again. I read the ftc opinion about charge offs, etc, but wasn't sure if this applied to all collections or not.
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