rcsrodriguez Posted July 8, 2003 Report Share Posted July 8, 2003 <blockquote> . Remember: the Statute of limitations begins to run from the day the debt - or payment on an open-ended account - was due. Also, this has nothing to do with how long an negative credit item can remain on your credit report. </blockquote> Ok, break this down even simpler for me. Does this mean then that the SOL begins when the acct is first opened and the first pymt is due, OR when you last made pymt and became delinquent. I have a card that was opened in 1995-6 (would have to look back to see EXACTLY when) but became a chargeoff on 9/01. When would the SOL be? Is this so incredibly obvious that I don't understand it? This site is WONDERFUL and I am becoming addicted to the information, yet also overwhelmed. Thank you in advance! ~0 Link to comment Share on other sites More sharing options...
Cascadesss Posted July 8, 2003 Report Share Posted July 8, 2003 9-01... or that date plus 180 days..... still haven't figured that one out.Cas Link to comment Share on other sites More sharing options...
creditfix Posted July 8, 2003 Report Share Posted July 8, 2003 <blockquote>Originally posted by Cascadesss9-01... or that date plus 180 days..... still haven't figured that one out.Cas</blockquote>I believe it is 9-01 plus 180 days !@#$ Link to comment Share on other sites More sharing options...
kb9tbq Posted July 8, 2003 Report Share Posted July 8, 2003 Oh, if charge off was 9-2001 then subtract 180-210 to get the 1st delinquency. 2-2001 or 3-2001. So then SOL would of started on one of these 2 dates.The SOL starts immediately from the time the account was due, not like 7 year reporting going from charge off date.[Edit by kb9tbq on [TIME]1057665173[/TIME]] Link to comment Share on other sites More sharing options...
rcsrodriguez Posted July 8, 2003 Author Report Share Posted July 8, 2003 Thank you for the information! Link to comment Share on other sites More sharing options...
rcsrodriguez Posted July 9, 2003 Author Report Share Posted July 9, 2003 Where can one determine what the SOL is by state? I have read that California's (where the acct was originally opened) is 2 yrs. My citibank would be 2/01 or 3/01, so would the SOL not be over? Then again I live in Texas now, but don't know what their's is. If the SOL is over then settling would NOT be a smart move, is that correct? Or do I use settling as a leverage point in trying to change the reporting to CRA? Link to comment Share on other sites More sharing options...
kb9tbq Posted July 9, 2003 Report Share Posted July 9, 2003 Texas is 4 years, but you can look top of this page for the link statute of limitations then look up by states.You can still use settling as a leverage to bump the tradeline off of the credit report sooner, then it is to expire. Link to comment Share on other sites More sharing options...
curlytop Posted July 10, 2003 Report Share Posted July 10, 2003 In Calif the SOL is 4 years for written contracts, 2 for oral contracts. I would guess your Citibank contract was written, so it would not be out of SOL yet if it was in '01. Link to comment Share on other sites More sharing options...
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