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Re: SOL, CR & Charge-Offs

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Posted by LadynRed ( on November 09, 2003 at 13:28:21:

In Reply to: SOL, CR & Charge-Offs posted by Tracy on November 09, 2003 at 08:40:44:

1 - Charge-off in 2003 for a loan that old is not possible unless you'd been paying on it until just recently. Dispute it as obsolete with the CRA's.

The one included in bankruptcy should say exactly that 'included in bankruptcy'. It should also be OFF your reports by now. The bankruptcy itself can stay for 10 years, but debts included in your filing drop off at the same 7 years - it should have been gone by now. Dispute it too as obsolete.

As for the bank and the car loan - dispute it as 'not mine'. The CRA's likely cannot verfiy it and if they cannot it MUST come off.

2 - SOL for your state is for bringing legal action to enforce collection of a debt. I has little to do with the reporting SOL. It MAY be possible to get it removed before the 7 years is up. Dispute it also, its unlikely the creditor can verify anything that old. Try 'not mine' first, then go from there if they verify it.

3 - Paying for deletion is tricky - and you HAVE to do it in writing. You can get rid of CA entries fairly easy this way, OC's can be more stubborn. There are methods you can use, but it HAS to be in writing.

4 - They stay for 7 years from the time they were entered - or the life of the judgment (if unpaid). Satisfied judgments are a matter of public record, so they can be harder to get deleted, but people have succeeded.

For some more credit repair tips and tactics, go to www.creditboards.com and start reading :)

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