Charge-Off still on report after...

[djtavo]

some charge-off accounts are on my report after the 4 years in texas of the statue of limitations, I will like to know how could i write a letter for this matter and if i should tell the credit agency that is past the SOL and that it needs to be removed immediately.
Also will this accounts be taken off no matter what if they passed the SOL ??

Thanks guys, great website always appreciate the help and time.

[Kdaddy]

djtavo,

Yes, NO, and Maybe.

My friend sometimes it may take a lot of letters to both the CRA, CCA, and the original creditor. But yes it can be done but you MUST be persistent. I have sent out my letters and have had some good luck. One creditor was deleted from Equifax yet remains on Experian. Some CCA's have been removed from some but not others. Think of this as a 12 round boxing match. You are going to win a few rounds but your going to lose some also. However, if you make it to the end you WILL win the fight. For example. I liken my deletions to rounds I won. However, Transunion is being quite an opponent and is not giving up. However, I am not fazed with their resistance and I will fight them until the end knowing I will prevail. My advice is go with the Credit Secrets Bible and "train" for battle. Once your ready get in the ring and expect a fight. I know as for me I'm expecting this slugfest to last 6 months with numerous letters and threats of litigation. but in the end I WILL win and so will you.

P.S. As for your question regarding the statute of limitations don't expect them to just say, " Oooops! Look four years is up I guess I'll take it off now". In fact I would not be surprised if they "illegally" attempted to re-age your account.


Get in there and fight. :mad:

Kyle

[djtavo]

thanks for the help bro, hopefully we can win..lol

Now can anyone plese help me with a letter i could send about statue of limitations limit?

[ivyalmighty]

Hi there,

There is a lot of misconception about the SOL for each state. I'm sure you went online and found that big list of SOLs by state.

The SOL of 3-5 yrs (depending on the state & type of debt incurred) is NOT the limitation for reporting that debt on your credit report. That SOL is the limit after which the creditor is not allowed to SUE YOU or take other legal action to force you to repay the debt!

Most people find that site and immediately assume the SOL applies to how long that debt can be reported on your credit report, but it's not. If you read the disclaimer above the list, you will see it defined as the state-by-state SOL for legal action by the creditor.

However, I have still had success in having older items removed from my credit once they've been paid off, just on the basis of "this item is 5.5/6.5/whatever years old and is nearing the SOL for reporting items. Please delete this item due to its age, and it no longer provides an accurate depiction of my payment integrity." Sometimes they'll delete it anyway.

-Ivy