Determining statute of limitations

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kjenks

Joined: 02 Mar 2007
kjenks's page
Posts: 1

30 Magic Points

Subject: Determining statute of limitations

Fri Mar 02, 2007 6:15 am

On credit report one of my credit accounts only lists date of 1st major delinquency can this be used to determine Statute of Limitations on credit card debt.

stanley
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stanley

Joined: 23 Feb 2007
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Posts: 54

3357 Magic Points

Fri Mar 02, 2007 6:19 am

This date is used to calculate the date when this item would be taken off from your credit report.

Statues of Limitation is related with the date of last activity, not the date of reporting. Also Statute of Limitation has nothing to do with credit reporting, it shows the date after which no legal action can be taken against you for not paying a debt.

Welcome to the forums btw!
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Stan
BTW, I am not a lawyer, I am here to share what Life has taught me.

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