Scott - Additional Questions

Posted by Cindy (138.26.42.210) on March 21, 2003 at 10:17:41:

In Reply to: Re: Asset Acceptance / Arrow - Response posted by scott on March 20, 2003 at 19:03:50:

As you probably can tell, I'm new at this. Can you please help me with your earlier statement? "Alabama has a 3 year sol on open ended accounts(credit cards) which means the statute will become time barred on 9/2003 which is 5 1/2 months away.".

Yes, the last activity of the account with Providian was approximately 9/00 and the charge off date is showing 12/01. In speaking with Experian, I'm told that this entry will be on the credit report until 10/07.

Asset apparently got the account in 12/01. All the CRs show an entry for Asset with an opening date of 12/01.

Are you stating that Asset can not try to collect on the account after 3 years from the last activity (last activity with the actual lender - being Providian)? And I have some type of protection against this?

Would my best bet be to simply ignore my credit report and just not try and buy anything major for a few more years until everything is off my credit reports (all will be off by 10/07)? I guess I could do that. Bascially, I'm coming to the conclusion that trying to do the right thing and pay these debts won't get me to a point with my CRs where I can buy anything now anyway.

Thanks again, your advice has helped me greatly!

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