Posted on: 29th Mar, 2012 02:05 am
Hi there… I need to know whether or not a CA/JBD place debt account on your credit report which has passed SOL? If yes, after I dispute with the CRA, are they obligated to delete it or does it remain for 7 years on the CR? I'm confused. If a CA/JBD validates an out of SoL debt, can they legally report it to a CRA?
Hi Mandolene,
As far as I know, the creditors can report your debt/mortgage account to the credit bureaus for 7 years irrespective of what the SOL period is. However, once the SOL period is over, the creditors won't be able to take any legal actions against you to recover the debts.
Thanks,
Jerry
As far as I know, the creditors can report your debt/mortgage account to the credit bureaus for 7 years irrespective of what the SOL period is. However, once the SOL period is over, the creditors won't be able to take any legal actions against you to recover the debts.
Thanks,
Jerry
Hi Mandolene!
Welcome to forums!
If you don't own the account, then you can contact and dispute the item with your creditor and your collection agency and get it removed from your credit report. However, if you own the debt and haven't paid it, then it will remain in your credit report for 7 years as Jerry has suggested.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you don't own the account, then you can contact and dispute the item with your creditor and your collection agency and get it removed from your credit report. However, if you own the debt and haven't paid it, then it will remain in your credit report for 7 years as Jerry has suggested.
Feel free to ask if you've further queries.
Sussane