SOL question

[Battle]

I need to clarify something. There are 2 different SOL's? One for reporting (7 yrs.) and one for collecting?

In a previous thread someone said a student loan had been removed because it was out of SOL for his/her state. Is that grounds to have something removed?

The SOL in my state is 3 yrs. Does this mean anything over 3 years old can be successfully disputed?

[chane]

There is only one SOL. The statute of limitations (SOL) for debt is the time limit for the creditor to file a lawsuit. Just because the SOL has expired on a debt will not necessarily prevent a lawsuit from being filed, but the defendant can have the suit dismissed on this basis.

Most collectors will still try to collect. They usually use the fact that they can sue you and win to scare you into paying it. But, smart consumers know that once the SOL is up, they can't win in court and they really don't have to pay it.

SOL has nothing to do with credit reporting laws and the FCRA. Legally they can still report that debt on your credit report for 7 years IF they can prove it belongs there.

If you dispute it with the CRAs, they have 30 days to prove that the debt is yours. If they can't, they must remove it.