Trying to understand SOL

[chuck112]

i hate to add another thread just for this but I need a simple understanding of SOL. Lets say I lived in WA I had a credit card and the company is in CA. Now if I stopped paying in 2005 and the SOL is for a Opened end account is 3 years does that mean after 3 years I can dispute it on Grounds of SOL?

I have read on here its the address to where you opened the account not where you live now is that correct?

And i notice everyone one uses 7 years as a template on SOL, why is that when I look it dont look like any of them are 7 years. Your thoughts.

[jjgross]

Originally Posted by chuck112

i hate to add another thread just for this but I need a simple understanding of SOL. Lets say I lived in WA I had a credit card and the company is in CA. Now if I stopped paying in 2005 and the SOL is for a Opened end account is 3 years does that mean after 3 years I can dispute it on Grounds of SOL?

I have read on here its the address to where you opened the account not where you live now is that correct?

And i notice everyone one uses 7 years as a template on SOL, why is that when I look it dont look like any of them are 7 years. Your thoughts.

Your confused on the terms.
1.Seven years is the length of time you can be reported to the credit agencies it has nothing to do with sol!
2.On a credit card it would have to do with your states laws not where the cc company is located,unless it has a choice of law clause in the agreement that states this agreement is under the laws of this state.such as Utah Delaware California then you would go by that states laws.