Northbrook Posted July 28, 2004 Report Share Posted July 28, 2004 I live in Missouri. My understanding is that the Statue of Limitations on Open accounts which include credit cards in Missouri is 5 years. All the credit card debt was originated in Illinois and it also has a 5 year SOL on open accounts. I stopped receiving credit card statements from my original credit card companies in early to mid 2000. However, I just looked at my credit report and some collections agencies have indicated an open date and last activity date as late as July, 2004. I have maintained all my old statements as well as letters from collections agencies indicating they are representing the origincal creditor or have purchased the account. If a collection agency indicates it has purchased an account from the original creditor. Will I still be protected by the SOL regarding the original creditor? Link to comment Share on other sites More sharing options...
paw67 Posted July 31, 2004 Report Share Posted July 31, 2004 Yes, you would still be covered by the SOL from the OC. You will probably here a CA tell you that the SOL starts from the time they purchased that account but it is not true. The sol generally starts from either your last charge &/or on-time payment. You have to watch the ca's closely because they will try to re-age an account if they think they can.Good luck!paw67 Link to comment Share on other sites More sharing options...
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