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What is the Statute of Limitations for Suing OCs and CAs?


Bambee
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Hello eveyone. I'm moving my posts from the "How To Begin Credit Repair - A Primer" thread for more visibility.

Here's my first post:

Quote:

Originally Posted by divemedic

You are only going to get so far with the CRA. After that, you must go after the source. The source is the furnisher (CA, OC) The reason you follow the steps above is to build evidence for a court case. If they back down earlier, great.

Once you have gone through the process and you can prove that they have violated, and then committed the same violations a second or even third time (depending on how many rounds you did) then you have the evidence to file a suit. You need to sue them and force them to comply with the law. "

Just curious to know how long one has to sue an OC or CA for violating the FCRA? I've built up evidence against 3 OCs for reporting my accounts as being charged-off without verifying the debt (one bank's loan officer forged my signature on the original application/prom note and used my household goods as collateral for the loan). This evidence is about a year old and I've been on "vacation" from my credit repair work since that time to deal with other things that were going on in my life.

Should I start the DV process all over again for these creditors or pick up where I left off and sue the pants off of them?

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`An action to enforce any liability created under this title may be brought in any appropriate United States district court, without regard to the amount in controversy, or in any other court of competent jurisdiction, not later than the earlier of--

(1) 2 years after the date of discovery by the plaintiff of the violation that is the basis for such liability; or

(2) 5 years after the date on which the violation that is the basis for such liability occurs.

You have 5 years to sue from the date of the violation, but must do so with 2 years of when you actually notice it. Does that make sense?

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`An action to enforce any liability created under this title may be brought in any appropriate United States district court, without regard to the amount in controversy, or in any other court of competent jurisdiction, not later than the earlier of--

(1) 2 years after the date of discovery by the plaintiff of the violation that is the basis for such liability; or

(2) 5 years after the date on which the violation that is the basis for such liability occurs.

You have 5 years to sue from the date of the violation, but must do so with 2 years of when you actually notice it. Does that make sense?

Not really . . . .Is subsection (2) related to the willfull misconduct actions E Normis speaks of?

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