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Charge off and SOL over

Posted on: 11th May, 2012 01:15 am
I have a charge off mentioned in my credit report. The debt is outside of the CA sol, but the Bank will not remove the balance. They have sent me a letter stating debt is outside of sol, but that they will not remove the balance. I would think leaving an outstanding balance on the CRA's would be interpreted as collection activity on SOL debt. Anyone out there have any thoughts?
Though the debt has passed the SOL period, it will remain in your credit report for 7 years. Passing off the SOL period doesn't mean that it will get removed from your credit report.
Posted on: 11th May, 2012 02:57 am
Hi Garry,

I agree with the opinion of Niicss. Though the SOL has passed, the account will still remain in your credit report for 7 years from the date of first default. Before that, I don't think the account will fall off your credit report.

Thanks
Posted on: 11th May, 2012 07:56 pm
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