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SOL not up but CA not licensed in my state


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Ok, here's my question...I though I was in the clear with the SOL being up on a collections for an old vehicle. However, since the original transaction took place in a different state, the SOL doesn't expire for another 4 years!!! My question is....I found out the the CA (Allied FinancialServices/Goldstein & Assoc) is not licensed in the state I now live in (FL) My question is, SHOULD I PURSUE THE VERIFICATION PROCESS WITH THE CA SINCE THE SOL IS NOT UP BUT THE CA IS NOT LICENSED IN MY STATE? I am not sure what to do here, and I don't wan't to open a can of worms....the CA hasn't bothered us in several years, and I would like it to stay that way!!

ANY words of wisdom??? HELPPP

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Sorry I wasn't clear on that...I am in FL so they are required to be licensed...butI checked and they are not licensed here...and do not own the debt. So I was unsure about how to proceed with the validation on this collection. Additionally, Since the 7 years will be up in a little over a year, I was wondering how that would affect the reporting on my credit report....The Statute of limitiations for the state the loan originated in is 10 years, but the 7 yrs it would notmally stay on my credit report will be up in a year..which one takes precedence? Will it drop off my report when the 7 years is up or not? Any ideas?? Thanks ADMIN :)

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<blockquote>Sorry I wasn't clear on that...I am in FL so they are required to be licensed...butI checked and they are not licensed here...and do not own the debt. So I was unsure about how to proceed with the validation on this collection. Additionally, Since the 7 years will be up in a little over a year, I was wondering how that would affect the reporting on my credit report....

Write them a debt validation letter and add to it the fact that Florida requires licensing and they are not licensed. You are doing debt validation to get this off of your credit report. The credit bureaus won't care if the CA is not licensed, you need to force the CA to stop reporting via threat of lawsuit, etc.

The Statute of limitiations for the state the loan originated in is 10 years, but the 7 yrs it would notmally stay on my credit report will be up in a year..which one takes precedence? Will it drop off my report when the 7 years is up or not? Any ideas?? </blockquote>

SOL has nothing to do with the time something stays on your credit report. You can be sued successfully if the SOL isn't up but the item has dropped off of your credit report.

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