Re: ATT: "Julie" 6 Years??? I don't think so

Posted by Why Chat (209.240.205.61) on June 12, 2004 at 19:06:53:

In Reply to: Re: ATT: "Julie" 6 Years??? I don't think so posted by julie on June 12, 2004 at 18:49:13:

Yes, NY is 6 years in MOST cases, however the SOL starts from the first default, (late or past due Month) prior to charge-off-- usually about 6 Months before an account is charged off.So the MOST you have is 5 years to go.

In addtion, it may have started earlier if the account was "frozen" or your credit limit reduced to your existing balance prior to your "first late".

It also may be a shorter SOL if your first "late" was while you were living in another State.

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