Trying to figure out the SOL?

[sea2desert]

I am very confused. I am trying to find out the SOL on my credit card accounts. I live in Nevada and figured out the SOL is 4 years. Here is an account I have. I took this informaton from my Equifax cr.

Credit card acct. (Charged off; sold to LVNV)

Date of last payment: 1/2003

Date of last activity: 2/2005

LVNV collection account

Date of last activity: 8/2004

Date maj. del. 1st reported 12/2006

Estimated date this item will be removed 12/2009.

What determines when the SOL starts? Why are the DOLA different? What determines the date they will be removed from my CR?

[u deserve 2 own]

I am very confused. I am trying to find out the SOL on my credit card accounts. I live in Nevada and figured out the SOL is 4 years.

TL#1 (OC)

Date of last payment: 1/2003

Date of last activity: 2/2005

TL#2 Lvnv

Date of last activity: 8/2004

Date maj. del. 1st reported 12/2006

Estimated date this item will be removed 12/2009

What determines the SOL? Why are the DOLA different? What determines the date they will be removed from my CR?

Hi, Can you explain you question again. Are you asking how long a debt can be reported on your credit report? Or ho long a creditor can sue you for the debt? Or how long can the Origiinal creditor continue to try to collect the debt? Please let me know so I can better answer your question. All three are very different.

Here are the SOL's for your state but I can help better if you repost your question.

STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 4

Written Contract: 6

Lease: 4

Domestic Judgment: 6

Foreign Judgment: 6

[sea2desert]

When does the SOL start? Is it the date of last activity or date of last payment?

[Amerikaner83]

Being a State law issue - SOL typically starts the date of the last payment. This is different than the 7 yr reporting period (which is FEDERAL law).

[sea2desert]

So does the negative info. come off your CR 7 years from the date of last payment?

[needsomehelp]

wow this is confusing ... i would like clarification on this as well ...

how do CRA determine the year they will stop reporting it?

[flacorps]

Reporting must stop seven years from the date of last activity (which is fixed at 180 days from last payment). So figure 7.5 years from last payment that brought the account current, or 7 years 5 months from the earliest notice of a delinquency that was never caught up.

Based on the info the OP has given, DOLA should be 7/03, and reporting should stop prior to 8/10. For everybody.

[Textoy]

And others say it's 7 years plus 180 days past DOFD not DOLP. SOL tracks to DOLP. DOLA can move because a payment was made or the OC added interest to the account.

For reference, the CDIA Metro-2 document requires the OC to post DOFD however, data furnishers are supposed to do a lot of things that they don't. Additionally, FACTA changed the FCRA so that CAs (actually a scumbag JDB) can use 1 of 3 options to derive DOFD if 1) the OC did not provide it AND 2) the consumer does not dipute it. Look at your original OC TL and see if you can determine when the last payment was made in the payment history section of the TL (i.e the month before it went the last 30 dasy late). For SOL, your looking for that DOLP. For CR year drop off, your looking for DOFD.

[admin]

It's first delinquency...