Credit Reporting Question Regarding California SOL
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Posted by xer
(4.63.49.1) on June 19, 2003 at 22:15:42:
I'm trying to get my facts staight regarding credit reporting and the SOL rules in California where I live. I had a lot of charge offs back in 1997, which were all credit reported. About every six months or so some 3rd party collector appartently buys the debt and then credit reports me again, causing the 7 year clock to start all over again and give the appearance that I have more outstanding debts than I actually have. For Example a $3000 debt may show up 3 or 4 different times under different creditors even though it's all for the same credit card account. So my questions are: 1. Can they do that? Double and triple report an item previously reported like that? If so, it seems a debt could haunt you for life rather than 7 years? 2. Does it make a difference once the SOL kicks in(4 years in California). 3. Does anyone know the California Code that references the SOL? I am coming up to where all of the original debt will be coming off which totaled around $35,000 or about 10 credit cards, but my credit report looks more like 30 accounts with about a quarter million dollars of debt running another 1 to 7 years. Seems a tad unfair to me as I could have (and this is a joke) Murdered one of these collectors and done less time the way this is going :-) Any help or advice would be appreciated.
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