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goodnatured
Joined: 03 Nov 2007
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Posts: 4007
1224 Magic Points
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Tue Aug 05, 2008 1:05 am
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| I did. I just don't want to start any contact and the badgering begins. When it gets closer to the date of fall off then I will deal with it. |
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sdchargers_63
Joined: 13 Aug 2007
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Posts: 1498
111 Magic Points
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Subject: credit
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Tue Aug 05, 2008 2:20 am
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| Ok...have a question. I live in PA. I think the SOL is 4 years. Now.........is there any kind of debt that would be on your credit for MORE than 4 years? Charge-offs, etc? |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Fri Aug 08, 2008 2:15 am
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| The main one I know of is a bankrupsy. I had one of these and it took forever. How is a charge off differnet from any other credit that wouldn't be part of SOL. Mainly when you speak of charge offs they pertain to credit card debt so it would have to fall under the 4 year SOL. The only question I have yet to get a definate answer on is when those SOL actually start. I have been around the board on this one and get many differnt answers. One is 6 months after the last payment and the other being 30 days after the last payment. |
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Justin
Joined: 17 Jul 2006
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Posts: 1298
28935 Magic Points
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Fri Aug 08, 2008 12:15 pm
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Hi Sdchargers
It is true that the SOL in your state is four years. But it does not necessarily mean that the charge off listing will remain in your report for four years also. Charge off listing remains in the credit report for seven years or till the time the SOL in your state has expired whichever is later. In your case since seven years is more, the charge off listing will stay for seven years.
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All the Best 
Justin |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Sat Aug 09, 2008 1:10 am
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| That pretty much stinks but on the bright side my credit isn't all that bad. Most everything falls off by this Sept (only two) and the bankruptsy is long gone. there will only be one left and I can't get them to work with me so I have two years to go on that one. I never have problems getting credit even at a decent rate so I guess I will consider myself lucky and hope life goes alot better for me in the future. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 4007
1224 Magic Points
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Sat Aug 09, 2008 10:39 am
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Ditto what every one said above, for fireyone:
Pennsylvania Statute of Limitations
Contracts: 4 years, (used to be six).
Contracts under seal: 20 years.
Sale of goods under UCC: 4 years.
Negotiable instruments: 6 years (13 PA C.S.A. .ยง3118).
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Sun Aug 10, 2008 3:09 am
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| I think I have this one memorized...Still have that lingering question about when the SOL actually starts 30 or 180 days. Still no concrete answer..Thinking I have a hung jury.LOL |
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goodnatured
Joined: 03 Nov 2007
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Posts: 4007
1224 Magic Points
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Sun Aug 10, 2008 3:11 am
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I think that it is the DAY of the last activity, I have never heard these time frames before.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Sun Aug 10, 2008 3:15 am
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| It was thrown out there at me by a couple people. I am thinking cmbv and she really seems to know her credit stuff. I am just hoping it was the 30 days. It would feel soo good to have that protection. I really haven't heard from them for months but I guess if you don't pick up the phone this can happen. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 4007
1224 Magic Points
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Sun Aug 10, 2008 3:16 am
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LOL, that is true, haven't they mailed you anything either?
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Tue Aug 12, 2008 5:09 pm
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No nothing since probaly last Jan or Feb. and it was a bunch of garbage. Sign here and you are the winner of three huge monthly installments on your past due credit card. Respond in the next ten minutes and we will even keep calling to remind you that your debt is past due. So sign today and make the $500 monthly payment and we will even debit from your checking account.
Blah,blah,blah. Now give me the original debt minus bogus charges and I would make one monthly installment of $300.......... |
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erb1953
Joined: 31 Dec 2007
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Posts: 621
-55 Magic Points
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Wed Aug 13, 2008 2:00 am
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| I hear you fireyone, I have had one credit card that the debt was originally $500 by the time they ended up adding on all there crap it was it was well over $1500, they did negotiate down to around $1000, still twice the original amount. There should be a limit where they have to stop adding on all the crap, I really wish they would re do these collection laws to put some limits in place. They talk about the payday lenders, well these companies are the same when it comes to fees and charges, may be even worse. I haven't take the time to do the math, but I bet they charge more than the payday lenders. |
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fireyone
Joined: 26 Feb 2008
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Posts: 4500
8812 Magic Points
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Wed Aug 13, 2008 1:18 pm
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| That is so funny...well weird..I was thinking of the same comparrison when talking about payday lenders and cc companies. It really is the same thing. Its all payable by cash in the end so why now do the evryday American a favor and get a little laws and guidelines added to the CC industry. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 4007
1224 Magic Points
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Thu Aug 14, 2008 3:43 am
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gotcha, lol, Just because they are a well known tax agent does not mean that they should get a break, they would probably say that it is a banking product, not theirs, so they just refer people there, the block has to be getting some type of money for doing these referrals, they don't do it out of the kindniss of their hearts.
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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