What is the SOL period of charged-off debt in Florida?

Submitted by Anonymous (not verified) on Wed, 07/01/2009 - 04:49

I am currently in California. I had a Capitol One credit card that was charged off in 2001 with $400 balance due. Yesterday a collection agency called saying that the accounts were opened in 2006 and collecting $5000 for a $400 debt. They must really be crazy. Should I send a validation letter? In 2001 I as in Florida, so what would be the SOL period of the debt?

Hi linda,

To know the actual date when your account was opened, you can check your credit report. SOL period of the debt accounts begins from the date you first missed payments.

The SOL period in Florida is 5 years. If your accounts were opened in 2001, they are already well past the SOL period. So if you make any attempt to pay off the debt accounts, the SOL period will restart. However, the charge-off will remain on your report for 7 years and 180 days, starting from the date of first non-payment.

Wed, 07/01/2009 - 06:56 Permalink