Re: Charge-Offs?
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Posted by observer
(64.12.96.205) on July 02, 2003 at 17:50:34:
In Reply to: Re: Charge-Offs? posted by Julia on July 02, 2003 at 17:27:15:
Do you have any idea when you last paid the orginal creditor? Any old stements showing a late fee or any old dunning letters. See, the SOL starts with a cause of action. When you first went into continious default and never recovered. FDIC regs require financial institutions to chargeoff accounts at 180 days from default. So, if you see a chargeoff at a certain date, subtract 180 days and you'll have a rough idea of the SOL. So, to answer your question, 5/03 is when they updated the report to the CRA. Do you have anything on those reports that say chargeoff and a date. Do you have an Experian report? That is usually pretty acurate and should show a comeoff date-7 years from chargeoff.
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