mikopr

Statutes of limitation Violation?

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Hello guys!!!

I sent a DV to Pinnacle Credit. They sent me a response, but the response came from APM Financial Solution. They included Pinnacle Credit like a Client. In my credit report appear the follow info about this account (Pep Boys Credit Card):

Date Opened:

04/2004

Date Reported:

12/2008

Date of Last Payment:

11/2005

Status: Charge Off

In the response letter they mark the account like "Statute Date: 11/15/209 Out of Statute"

It is Out of Statutes or no?

What happen if the account is out of statutes? They delete or no? My next step?

Thanks

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Guest usctrojanalum

They can't successfully sue you over the debt, so I would send a cease and desist and you'd never hear from then. It is going to fall off your report in about 18-24 months.

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Be sure to also dispute w/ the bureaus as well.

From personal experience, Pinnacle failed to mark their entry as disputed. I got a nice settlement and deletion in lieu of a federal lawsuit.

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Hello guys!!!

I sent a DV to Pinnacle Credit. They sent me a response, but the response came from APM Financial Solution. They included Pinnacle Credit like a Client. In my credit report appear the follow info about this account (Pep Boys Credit Card):

Date Opened:

04/2004

Date Reported:

12/2008

Date of Last Payment:

11/2005

Status: Charge Off

In the response letter they mark the account like "Statute Date: 11/15/209 Out of Statute"

It is Out of Statutes or no?

What happen if the account is out of statutes? They delete or no? My next step?

Thanks

The SOL (statute of limitations) for collecting a debt and the SOL for reporting it to the CRAs are 2 different SOLs. If the SOL for collecting in your state is 4 years, they can continue to try to collect, but as USC stated, tell them to leave you alone.

The SOL for reporting on your credit report is 7 to 7 1/2 years after the date of your last payment. It should fall off in about 2 years...perhaps a bit sooner.

You could contact the OC and offer to pay the debt in full if they delete, but they are not obligated to delete the debt. They could refuse. You should also check your state laws. In some states, an offer to pay could reset the SOL for collecting and start it over again.

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