Re: WHY CHAT?? Question on SOL

Posted by Why Chat (209.240.205.61) on March 01, 2004 at 18:24:08:

In Reply to: WHY CHAT?? Question on SOL posted by Keith on March 01, 2004 at 17:43:49:

If you are talking about a payment to the original creditor on an account before it has been charged off, then-- it depends on your State.

In MOST States the first default before chargeoff is the start of SOL for legal purposes, (same date as for the start of the 7 year reporting period)

In a FEW States, ( Va. is one) the "legal" SOL starts from the last charge or payment on the account.In MOST cases this makes the legal SOL start a Month before the reporting period SOL, however, if you paid for a few months more, never caught up and were FINALLY charged off, it would likely start from your last payment, (IF you were in Va.or one of the other few States like it)

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