I have debts that have reached the "statue of limitations" for my state, how do I have them removed from my credit report?
2006-09-13 06:02:09 · 6 answers · asked by Tinactin 1 in Business & Finance ➔ Credit
First, let me clean up bowler_j's answer a little....
The reporting time for negative items on your credit report is 7 years from the date of the delinquency. Whether it's a charge off makes no differance. The date is still the same.
And if this debt is past the SOL, and another collection agent happens to buy the debt, it's a very simple matter to get them off your back. A simple Cease and Desist letter is all you need. Once they receive it, if they call or contact you in any way they are in violation of the Fair Debt Collections Act and you can easily sue them for $1000 in small claims court.
Now, to answer your question about the SOL, take a look at the link I've supplied below. It does a great job of explaining exactly what it is, and also discusses the credit reporting period.
2006-09-13 06:59:27 · answer #1 · answered by Anonymous · 1⤊ 2⤋
First The statute of limitations is the time the creditor has to seek a court judgment against you. It is not the same as the time that the account can be reported on your credit report. Under FEDERAL law, accurate negative information can remain on your report for 7 years from the date of last activity. Any time you make a payment or acknowledge the debt, the 7 years starts over. If the debt remains on your account after the 7 years, write a certified letter to the credit bureau's requesting they are removed. You can make a request on the phone, but only a written request protects your legal rights.
2006-09-13 15:08:07 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Unpaid bills will remain on your credit report past the statute of limitations.
If you have a charge off, they will remain for 7 1/2 years from your default.
The statute of limitations is designed to protect you from "stale" claims, it has nothing to do with the contents of your credit report.
You should be aware that so-called "zombie" bill collectors are buying this kind of debt for pennies per hundred dollars and are making a good living collecting on them. So just because the statute of limitations has run, does not mean you have heard the last of your unpaid bills.
2006-09-13 13:11:40 · answer #3 · answered by jbowler 3 · 1⤊ 0⤋
just because the debts are outside the sol dates for your state, that does not mean they have to removed from your credit report. being outside the statue simply means that they cannot take you to court but they can still hassle you for the debt.
2006-09-13 14:53:12 · answer #4 · answered by bella_4624_19 4 · 2⤊ 0⤋
I think they should automatically come off
2006-09-13 13:06:37 · answer #5 · answered by Dave 2 · 0⤊ 2⤋
STATUE? AS IN LADY LIBERTY
2006-09-13 13:10:58 · answer #6 · answered by DECATSDEAD 3 · 0⤊ 2⤋