chilton1 Posted March 20, 2007 Report Share Posted March 20, 2007 I moved from NY to Illinois about 1.5 years ago. Anyway, the new york law that paid accounts gets removed after 5 years no longer applies to me. I have 3 accounts that would have fallen one in april, June and november all based on the NY law. Up until last night when i got my credit report I got 2007 removal dates. Now all that crap says 2009. All the bureau have finally update to IL law. The report they sent me about a week ago had my rights for Illinois on it. What are my options? I did not even try to fight with these people about these account because i figured they would be gone soon.The IL SOL is 5 years and I still have a Collection Agency account which will pass SOL in May so do I wait for after may to take care of the Collection agency and then move back to NY. My question is when I remove back to NY can the Collection Agency then come after me in NY. New York SOL is six years. Link to comment Share on other sites More sharing options...
kevin3344 Posted March 20, 2007 Report Share Posted March 20, 2007 (edited) The reporting period does not change just because you change states. I know because I moved from NY to NC in 1999. Remember, reporting period and SOL are two different things. Let's say you moved to IL from NY and stayed for 7 years from when an account went deliquent. The reporting time is UP, but the SOL isn't...mainly because you can "toll" an SOL when you move to another state.________Roll a joint Edited September 9, 2011 by kevin3344 Link to comment Share on other sites More sharing options...
chilton1 Posted March 20, 2007 Author Report Share Posted March 20, 2007 Yes but if i move back to NY the 5 year rule stills stand for those paid accounts and they will be removed wont they? I figure I can get the CA to remove their listing by suing and/or neg. a settlement for delete. Link to comment Share on other sites More sharing options...
kevin3344 Posted March 20, 2007 Report Share Posted March 20, 2007 (edited) NY does not have a 5 year rule that I know of...bottom line is the FCRA sets the reporting period as 7 years, no matter what state you live in. If these accounts are getting ready to fall off this year, you would be doing yourself more harm than good by paying them.________Cheap Glass Bubblers Edited September 9, 2011 by kevin3344 Link to comment Share on other sites More sharing options...
chilton1 Posted March 20, 2007 Author Report Share Posted March 20, 2007 Kevin, New york is the only state in the Union that has the 5 year rule. Paid collection accounts in NY are removed after 5 years. This is New Yorks way of helping the consumer. (It would be great if the account were removed as soon as you pay but they state for 5 years) If the account is paid and you are a current resident New York State resident the reporting period is 5 years.The accounts are paid already and they fall off under the NY law but will continue to report if i stay in IL. I want to know if I move back if they will be removed because I again a New York resident.http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=231698&highlight=york+year+rulethe law is listed in this thread and the credit bureau list it on their site. Link to comment Share on other sites More sharing options...
GucciMark Posted March 21, 2007 Report Share Posted March 21, 2007 I'm sure if you become a NY resident again, that the 5 year rule will apply again. If there is a way to make it look like you are a NY resident again, ( relatives live in NY who you trust) I would do that.Just make sure the CRAs know of your new NY address, via a current NY drivers license and cell phone bills, whatever.I love NY for this reason and I am currently working on my State Legislators to adopt an even better law than NY's. Link to comment Share on other sites More sharing options...
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