Re: SOL Question

Posted by LadynRed (199.91.33.254) on March 28, 2003 at 18:17:14:

In Reply to: Re: SOL Question posted by Anon on March 28, 2003 at 16:57:12:

The 7 year reporting period and the State's SOL for suing over a debt are 2 different things.

A negative entry will stay on a report for 7 years from the first delinquency, yes. If its been more than 7 years and its still on the report, then you need to dispute it with the credit bureaus as 'obsolete'.

The State SOL of 3 years is the time a creditor has for SUING you to enforce collection of a debt. Once that SOL expires, as yours has, no collector can legally sue you to collect and you do NOT have to pay them a single penny. That's why I mentioned the cease and desist letter. Tell the collector for the magazine 'contract' to go pound sand, they can't sue you to get money and you do NOT have to pay it.

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