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| *Ostroff, Fair and Company>>>Credit |
How do I clear the collection agent from the 3 credit bureaus, It was over 5yrs, what is the law in CAL? |
How do I clear the collection agent from the 3 credit bureaus, It was over 5yrs, what is the law in CAL? The 1st and 3rd poster are correct. There's 2 statute of limitations, one for reporting debt which is the 7陆 year statute, and the statute of limitations for collecting debt which is 4 years for written accounts in California. The legal meaning for statute of limitations is: THE TIME OF COMMENCING ACTIONS - Time allowed that litigation - lawsuit can be brought. (See complete legal meaning of Statute of Limitations) If your statute of limitations has expired that means that the debt cannot be enforced by lawsuit, however that does not dismiss the debt and the creditor can still leave it on your credit for 7 years (excluding some public records, those can remain for 10 years). Source(s): http://www.acollectionagency.com/statute... I believe it's 7 years for regular collections and 10 years for bankruptcies and charge offs. But am not sure on that. If they are paid of you can ask them if they can self remove from your credit report. If they are really nice then the might but otherwise you have to wait for 7 years after the last activity on the account before it goes off. Most credit reports have a line that say the date of the last filing next to the item or the roll off date I think. If I remember correctly from the last time I had that problem. But unfortunately in California its 7 years in most cases before it self rolls off or you can request it be removed by the credit reporting agency itself. The previous responder is largely correct. 7 years for most negative information including chapter 13 bankruptcies (those you pay off). 10 years for chapter 7 bankruptcies (those you dont). http://www.credit-reports.com/personalin... |
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