CarolinaBlueEyes Posted May 30, 2006 Report Share Posted May 30, 2006 I just saw someone posted a question about an SOL.. and in his state he said it as four years "for collections".. I am confused.. I thought the SOL was the last payment/activity on the debt from the orginal creditor.... so I am not sure what he meant by "for collections" since many times CA's get it much later.. does this start the SOL over again??? If that is the case it can be endless.. Link to comment Share on other sites More sharing options...
momof5 Posted May 30, 2006 Report Share Posted May 30, 2006 SOL is based on the type of the account that was charged off. Some states have the same number of years across the board, other vary based on type of credit granted (installment (aka contract), open ended (aka credit card), verbal and judgment). Link to comment Share on other sites More sharing options...
kevin3344 Posted May 30, 2006 Report Share Posted May 30, 2006 (edited) The clock starts ticking from the date of 1st delinquency with the OC, no matter when - or how many - CAs get it. Remember, a debt can be sold/transferred a number of times...so make sure you keep your old CRs. Also, each state has their own SOLs, you can check on this site for the link.________Cute_**** Edited September 9, 2011 by kevin3344 Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted May 30, 2006 Author Report Share Posted May 30, 2006 NC is three years across the board (and no wage garnishment except in cases of child support and taxes).. except judgements which are 10 and can be renewed.... but that clears it up.. thanks! Link to comment Share on other sites More sharing options...
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