SOL - CR - Mortgage
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Posted by IndiRocky
(68.239.181.228) on August 01, 2004 at 14:23:18:
Hello I discovered this site last week. A lot of first hand info. Here are my questions: 1. I have two accounts about $9000 each that came off my CR few months ago. SOL in my state is 6 years. If they have come off my CR and CR do not report accounts more than 7 yrs old, is it safe to assume they are out of SOL? 2. I have read that the CR will report all accounts when you apply for a loan $150,000 or more, even if the account is older than 7 years. Does this mean, when I apply for a mortgage in future, these upaid accounts will be on the CR and create problems? 3. I have been getting 50% settlement offers from NCO. I think both accounts are out of SOL. Should I take these offers? I will have to take a big toll on my finances for this. But, if this will affect my mortgage application, I will have to pay them. Thanks.
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