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TLs Showing Incorrect SOL for Date of Drop-Off (State of Kentucky)


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O.k., did some further research so I am rewording my questions: ;-)

 

I have about 8 negative TLs on my CRAs that are with Midland or LVNV that are all due to drop-off between March and August of 2015 (per my TU CRA), since these accounts were have a DOFD of 2008 and the SOL in the state of Kentucky for "open ended" accounts is 5 years, does that mean these accounts are no longer collectible? 

 

For instance: One is an old credit card with $450 balance that is now with LVNV Funding--DOFD is 5/2008, DOMD is 2009--I realize this will be on my CR until about 5/2015 (according to my TU report) but I have LVNV filing a Lis Pendens in the county I live in for a lien on any property I own (my name is on my house with my husband)... will they be able to get a lien on the house if it's past the 5 year SOL?

 

Also...

 

What is the difference between the "Date of First Delinquency" and "Date of Major Delinquency"? On all 8 TLs these two are almost always exactly one year apart--the DOMD is 2009.

 

How do I find out the DOFD on an LVNV Funding TL when the Payment Data chart only shows the dates that the account was given to LVNV and not the actual dates the account became delinquent with the OC?  I don't always know who the OC is because it's not on the TL for LVNV, so then would I contact LVNV for this info and if I do will that "re-age" the account?  I want to avoid re-aging at all costs.

 

I appreciate your assistance in advance! I have been reading on the site for years and really appreciate how informative and helpful the forums are--something you don't find everywhere. Thank you!

Edited by thedebtinator
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First, your state's SOL doesn't make the debt go away.  What it means is, if they sue, and you show up, and raise the SOL as an "affirmative defense", and the judge agrees, they don't get a judgement...but, you might get a 1099c for the "found income".  Note that there is some discussion about whether or not a creditor can continue to report an out of statue debt, but, the debt IS still collectible; they just can't use the courts to do it.

 

Second, most states use the date of the first missed payment in determining the SOL...but that does vary by state.  I'm pretty sure that you could fight the lien using an SOL defense.

 

The DOFD determines how long an item can stay on your reports. 

 

Send LVNV a letter, CMRRR, saying "...hey, I found you on my reports...I never did business with you people...prove to me otherwise, or go away...".  As long as you don't admit to owing them anything or make payment arrangements, you will not reset the SOL or the reporting period.

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@willingtocope

 

 

 

Note that there is some discussion about whether or not a creditor can continue to report an out of statue debt

 

 

 

Yes, an out of statute debt can still be reported.  As you pointed out, even though the creditor or JDB can't attempt to collect in court, the debt still exists.  Therefore, it's still part of one's credit history.

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Super, thanks!

 

I will send LVNV and Midland letters CMRRR and play dumb.  To be honest, I only remember one of these little cc's, but all of them are past the 5 years at this point.

 

I may look into an attorney to fight the lien--right now I only have a notice of Lis Pendens that was mailed stating they filed for it in the county court.

 

Thanks again for the advice!

 

(Just a side note: I truly hate the state of Kentucky when it comes to credit/collections, they have the worst SOLs of any state... seriously stinks.  Glad I'm moving in 4 months!)

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