Re: Hey Why Chat

Posted by Why Chat (209.240.205.61) on January 28, 2004 at 18:19:54:

In Reply to: Hey Why Chat posted by anon on January 28, 2004 at 16:38:21:

Were you behind on your payments when you started with Ameriscam? What MAY have occurred is that the OC accepted the plan and put you on a "hardship"program which "caught up" your payments. This is LEGAL if it is done by an OC BEFORE charge-off.

The criteria for SOL on both reporting and legal action is the FIRST delinquency (missed or late payment) that led to the chargeoff. If you look at your Experian credit reort, it should show the removal date (from the OC account) this is 7 years past the reported first delinquency that led to the chargeoff.

Let me give an example:
You are 4 months behind on your payments, get into a hardship program and pay for 3 months on time, the OC "catches up" your account and it is show as up to date. THEN you fall behind, and do NOT get caught up, the account is charged off. Your report will show BOTH the earlier 120 day "lates" and the subsequent 30-180 day lates and the chargeoff. Your SOL will start on the SECOND delinquency, as the earlier delinquency did not result in a chargeoff.

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