Onyx Acceptance car repo, SOL and Fall off question

[jumpmaster]

Ok. I got a car reposessed in 2000. Onyx acceptance corp sold it and sent me a bill for the difference, $10K. The car was repossessed in 2000, but I do not remember the month.

My credit shows I opened the account in 3-00. I was late a few times in 2000 and they repoed it. My current report shows last activity in 05-04 (they got me on the phone and tried to settle). And the last reported date is 03-07.

Capital One bought Onyx and is now the lender on the credit report. They called a few times but I never spoke with them.

QUESTION: I have read in the FCRA that the SOL on old debt is 7 years then it can be removed from the credit report. Colorado law states 6 years. Which limit applies to me? Does the Colorado SOL, 6 years, refer to how long they can come after you for the debt? Since I do not remember when I was first delinquent should I wait to try and get it removed?

I am buying a house and will have to pay the $10K (or settled amount) in order to get the loan (VA loan). So should I write a letter displaying all the facts to the CRA's informing them of the SOL and ask them to remove it?

Do I write to Capital One telling them it is now too old and to please remove it? What exactly should I say, and to whom, to get this item off? I can also have the lender do a tradeline update to remove it once I get confirmation from the CRA or Cap One.

PS. I also have the same issue with a Bank of America CC from 1998. Who do I write to to get it removed?

Please Help!

[Recovering Attorney]

there is no such thing as an SOL in FCRA.

There is a 4 year SOL on suing on the deficiency under the UCC.

Why would you buy a house before taking care of this?

[jumpmaster]

The situation i'm in dictates that I buy now, long story. Either way I need this debt to go away. And by SOL in the FCRA I am referring to time limits.

http://www.carreonandassociates.com/articles/reportingtime.htm

So who do I write what to? To get it removed?