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Calif SOL Question


cali11
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I had a Sears card that I opened back in 1993.So it was in good stadings untill July 2007.I lost my job and was not able to pay them.Went through some tough times,and really just didnt care about anything.So anyways on my CR report(EQ) it says date of last payment 7-2008 & Date of First Delinquency 08/2007!I know I did not make a payment in 2008,but even if I did would the DOFD still be 8/2007?They sold the account to Midland, and now Midland is reporting date updated 7-2007 date placed in collections 12-2008.On my transunion report it show 30 days late in Aug 2007 and then says ok for sept & oct 2007, then no more payment after that.Would it be a good idea to wait untill the first of the year b4 I do a DV?Id like to try and make PFD with midland but want to make sure im out of SOL.Here in calfi SOL is 4 years,am I correct?

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I had a Sears card that I opened back in 1993.So it was in good stadings untill July 2007.I lost my job and was not able to pay them.Went through some tough times,and really just didnt care about anything.So anyways on my CR report(EQ) it says date of last payment 7-2008 & Date of First Delinquency 08/2007!I know I did not make a payment in 2008,but even if I did would the DOFD still be 8/2007?They sold the account to Midland, and now Midland is reporting date updated 7-2007 date placed in collections 12-2008.On my transunion report it show 30 days late in Aug 2007 and then says ok for sept & oct 2007, then no more payment after that.Would it be a good idea to wait untill the first of the year b4 I do a DV?Id like to try and make PFD with midland but want to make sure im out of SOL.Here in calfi SOL is 4 years,am I correct?

Yes, the SOL in CA is 4 years.

The date of first delinquency is going to remain the same, but that date does not affect the SOL unless you never made another payment. One can have a date of first delinquency (the 1st time a payment was late), but if you make payments after that, the account becomes current again.

The SOL begins the month after your very last payment. The month a payment was due, but you never made any more payments, is when the account went into default.

You should check your bank records to find out when you made your last payment. If the account is outside the SOL, I'd dispute both TLs for inaccurate information.

You can try a PFD with Midland, but you could also fight their TL based on ownership of the debt. That takes longer and is more difficult, but it can work. It just depends on how much time and effort you're willing to put in.

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