If there are no collection calls being made by a company listed on my credit report, but it's still listed as an outstanding debt....does the SOL apply to this? can i feasibly write the credit bureau and have it removed. I have tried to dispute items directly to the credit bureau and have received no response, however the items have not been removed? Please help.
Joined: 27 Jun 2006 carol's page Posts: 1299 Location: Los Angeles, California
Yes, Statute of Limitation starts from the date of your last missed payment towards the debt and its duration varies from state to state. If your debt is listed in your credit report, the SOL will definitely apply to it. Now, if the debt is past SOL, the creditor cannot collect the debt, but the debt will show in your report for seven years and six months from the date of your delinquency and it cannot be removed before this period. _________________ Keep in touch
Correct and accurate information can never be removed from your credit report. If the debt that is listed in your credit report is correct, it will stay there for seven years and six months and can only be removed if you can make the creditor agree to pay for deletion agreement, so that the negative information gets removed from your credit report as soon as you pay off the debt in full. _________________ SCOTT
Use your credit account responsibly and enjoy a debt free life.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.