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Paid Collections and NY SOL


cjb1975
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The SOL for paid collections in NY is 5 years. Lets say that a CA reports a paid collection as an Installment account. This would prevent it from ageing off in 5 years. Can this be considered re-ageing because it will keep it on the report longer? Is this a violation of NY State law as well....I am asking because if I sue would this be useful in keeping the case in State courts if they decide to move to Federal.

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I've seen some discussions on this board or another that the new federal FACT act (the one that amended the FCRA) causes it to supersede state laws on the same subject in a way that it did not before. The conversation specifically mentioned the shorter New York reporting period as something that the OP was bummed about losing. However, there's no guarantee that any of this actually is a problem.

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