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? re SOL...


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Most of my accts that that have been in debt are from 1996, I have paid all but 2 off. I was told that once you make some kind of activity on these accounts you can no longer use the 7 yr statute of limitaions (from 96') because it now starts over...is this true or can I still send a letter to the credit bureaus re: the collections I have paid and ask them to remove them from my credit report? Is it also true that for FL the statute of limitaions is only 5 yrs for a written contract thru a credit card co.?

Thanks April

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April, the SOL and the 7 year reporting limit on your credit report have NOTHING TO DO WITH EACH OTHER.

The statute of limitation is just how long some has to take you to court to get a judgment. If you make a payment on the debt, the clock is reset.

However, making a payment will not affect the length a "bad" debt can stay on your report. It will stay on 7 years from the date of the last delinquency, or in your case 2003.

For a list of the statute of limitaions, go here:

http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml

Most of your questions can probably be answered by reading through the info on this site. ;)

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