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SOL has ran out... how can I get it off of my report?


rp0029
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As some have stated your answer depends on what State you live in.

Here are a few.

Wisconsin: No collection once SoL is expired...not even a single phone call. No consumer action required. nno reporting on SoL debts by debt collectors.

California: No collection after SoL and no reporting either. No consumer action required.

Florida: No collection after SoL, but consumer action is required to notify collector that account is SoL otherwise it may be pursued as an "account stated."

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If there is something in the Florida statute that says you can't collect post SOL, I haven't seen it. Pleas post. The closest I could find is this:

559.72

(9) Claim, attempt, or threaten to enforce a debt when such person knows that the debt is not legitimate or assert the existence of some other legal right when such person knows that the right does not exist;

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Sorry, guys, I keep bringing this up because I think it impacts so much of the SOL advice we've been giving...read the IRS regs...

http://www.irs.gov/pub/irs-pdf/i1099ac.pdf

...look closely at item 3 on the right hand side of page 3.

In effect, an SOL defense gets you a 1099c. I wonder how this relates to the laws in WI and CA? Is it automatic?

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