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Do account drop off (date of last activity)

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fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Wed Mar 26, 2008 6:32 pm

How can I be positive that I am past SOL? If PA is 4 years then I am assuming it is past. On the OC account history It says 30 days as of Dec 2003. The CA who bought it doesn't list anything at all but when I talked to them the called it my old Providian account. Under the CA all I see is past due as of Dec. 2007. I am assuming this is when they bought it.Both amounts (On midland and providian) are the same. Midland has status details that list it to continue on file until July 2010. So wouldn't that put it past statutes ? I really wish I had money to just be rid of it but there is just no way...

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 3927

10 Magic Points

Mon Mar 31, 2008 2:55 am

Your are past the statute of limitations in Pennsylvania with that December 2003 date. They will still continue to harass and try to collect for a long time to come. I wish you luck with this, you need to read up on the law on fair debt collections webpage.
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Morningstar

Joined: 17 Apr 2007
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Posts: 582

11 Magic Points

Mon Mar 31, 2008 3:31 am

If sued, you should be able to raise SOL as a defense (as long as your last payment was not within the last four years), but the negative tradelines on your credit report can remain for up to seven years from date of charge off.
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sdchargers_63

Joined: 13 Aug 2007
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Posts: 1889

1356 Magic Points

Subject: cb

Mon Mar 31, 2008 10:19 pm

If the SOL does expire and the debt does 'fall off' your Credit Report, how can that same debt be put BACK on, your Credit Report? I thought I read that, in this thread..this happened to someone. Correct me if I'm wrong, please.

goodnatured

Joined: 03 Nov 2007
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Posts: 3927

10 Magic Points

Sun Apr 06, 2008 11:31 pm

It does not fall off once the sol expires, it will continue to stay on there. As far as the double reporting, as soon as a collection agency buys it they start reporting it. So as many collection agencies, that is the times it will show up on your report.
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sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889

1356 Magic Points

Subject: cb

Mon Apr 07, 2008 3:45 am

If anyone is interested, an individual, on this forum, gave me a WONDERFUL website that explains SOL, etc...very clearly. And this website has ALOT of information..anything from the CB's to the CA's. If someone would like it, please PM me. Thanks.

MEME
Guest

Subject: OLD CREDIT CARD DEBT

Thu Jan 07, 2010 12:04 am

BEEN 7 YEARS AND OUT STANDING DEBT IS STILL ON CREIDT REPORT HOW CAN I GET THIS OFF MY CREIDT REPORT

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1889

1356 Magic Points

Subject: credit

Thu Jan 07, 2010 10:31 am

Hello, MEME. Glad you've joined us on the Forum. You can 'dispute' the debt with the CB's. You can do this VIA computer and send a letter to them explaining the debt has been on your Credit for longer than it suppose to. However....you DO need the proof of this. I guess your proof would be a copy of your CR. Good Luck.

CreditLates
Guest

Subject: Collection Accounts

Thu Nov 18, 2010 5:41 pm

Only collections accounts are from the (date of last activity) what that means is, if you have a collection for $1000 and it has been 6 years, if you make any type of payments or even pay it off, you have just renewed your date of lats activity. Your 7 years will start all over again.

Well what if you paid it all off? paying of a collection will not gain you points, you will loose points, because you have make your collections account brand new and it will say on your credit is (collection account paid) and it will report for another 7 years.

This is why you should not do debt settlement you will have no credit for another 7-10 minimum, it is better if you filed BK.

First thing you should try is credit repair if that does not work file bK.

If you need help with credit repair you can visit creditlates.com its only $15

Kizzat
Guest

Sun Feb 27, 2011 8:13 am

I have something on my credit report from 7/2005 from a towing company, I have not contacted or made any payments to them, the original creditor sold the debt to another company. Should I just wait it out till it drops off my credit report? Will it actually drop off in 7 years?

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2675

48566 Magic Points

Mon Feb 28, 2011 6:54 am

If you're making a payment towards a debt that's about to get past the SOL, then it will reset the SOL clock. I'm not sure of what's gonna happen in your case, as you haven't mentioned which state you're in.
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