Re: WHY CHAT or anyone, What is a 'revolving line of account' ?
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Posted by Parry
(67.5.184.220) on February 22, 2004 at 12:16:28:
In Reply to: Re: WHY CHAT or anyone, What is a 'revolving line of account' ? posted by Why Chat on February 21, 2004 at 18:22:16:
Quote: "And no, the SOL does not restart when an account is sold or assigned, even if you make a payment, UNLESS you sign and the creditor ALSO signs a NEW agreement." Why Chat could you please cite the TILA section that states that a payment cannot restart the SOL for "lawsuits in all (50) states?" I agree that a payment cannot restart the (7) year SOL for reporting to CBs under the FCRA.
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