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SOL and 7 year appearance


Try4Gr8Credit
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I hope I am not missunderstanding your question, But SOL (Statute of Limitation) (Defence in Court), In your example is 4yrs and expires 1/04, but the 7 years your refering to for reporting puposes is for the DOFD (Date of First Dilinquency). Negative items can remain for only seven years. So in your example would be 1/07. so if the reporting company reported this co 12/06, it would still come off a month later, not seven more years. So the answer to your first question is not, and your second question the answer is wrong. :) Hope this helped.

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court stuff can stay longer, and 7 years is correct, but there may be a 90 day or something window from when you missed your payment, and when it goes delinquent.

Wait untill you know your deffinatley over the Reporting period and then just dispute the item as too old. (or what ever they default message is). If it remains then you may have dispute it with the reporter and then with the CRA again. I have not heard of them not deleting the line item that was to old as it would be a blatent disreguard of the law.

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It's way over the 7 years from the sound of it. CA's will make attemmpts to re-age accounts, but once disputed with the CRA "usually" will come off.

Careful with the SOL though. A lot of people think that once that has run, they are free and clear. Not the case. It's a defense in court and you will win, but if you don't go they will win. There have been cases where CA's have used "dubious" notification or none at all and won cases.

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