Re: paying a CA - restart 7 yr. clock on credit report?

Posted by Parry (67.5.191.122) on February 10, 2004 at 11:57:01:

In Reply to: Re: paying a CA - restart 7 yr. clock on credit report? posted by Why Chat on February 10, 2004 at 07:40:29:

Why Chat, wouldn't that be a violation of the FCRA?

I thought the SOL for reporting begins with the first MISSED payment that led to the delinquency being reported. This date is a date-certain and does not change, regardless of the number of times a debt is sold or changes hand. The SOL per FCRA is 7 years.

I think you could sue the CA for restarting the SOL on a settlement and reporting it to the CB as well as selling the balance.

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