JETTNINO Posted August 2, 2007 Report Share Posted August 2, 2007 Good day Everyone,I have a Question, What is the difference between the 7 year clock of one's credit file and the statute of limitations? Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted August 2, 2007 Report Share Posted August 2, 2007 You are confusing two very different concepts.Each state has an SOL determined by the state. they usually run from 3 years to 15 years (ohio) depending on where you live.. the SOL is used in case you are sued (yes they can still sue out of SOL ) and you use it as an affirmative defense in court that the SOL has run and they can not recover anything.the time limit for reporting is a credit report thing.. again totally different when things fall of your report after seven years of your DOLA (date of last activity).So even if you have something that is out of your states SOL it can still be reported since in MOST cases the SOL is shorter then the reporting period. Link to comment Share on other sites More sharing options...
JETTNINO Posted August 2, 2007 Author Report Share Posted August 2, 2007 Thank you very much. Very nice of you to reply..Ty. Link to comment Share on other sites More sharing options...
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