SOL on date of deliquency OR date of Charge Off

Posted by Need Advise (24.61.213.209) on April 23, 2004 at 21:49:16:

The SOL below states deliquency, so does one assume that the SOL is from date of said delinquency (Date of Last Activity) OR is it as of Charge Off Date.

The statute of limitations (SOL) for a delinquent debt is the time limit for the creditor to file a lawsuit. This period starts when the debtor becomes delinquent. The fact that the SOL has "run" (expired) on a particular debt will not necessarily prevent a lawsuit from being filed (via a Summons And Complaint), but the defendant can have the suit dismissed on this basis.

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