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Question By
vjammar

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Question about State's SOL vs 7 year fall off
Hey, I currently have an account that is marked as charged off and has been open since 2007 with the last activity date of May 2009. My question is, should I just wait until May 2015 for it to fall off my report or do I request it been taken off the report now as my state's SOL (FL) is 5 years?

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Thank you for the prompt response!

Thank you guys for the insight. I have another question. I also have 2 accounts that are currently in collections but I have the funds to paid them off in full. What is the best route to follow? Write to the collection agency that I will pay it off in full and in return they DELETE it from the report or mark it paid in full and current?

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Your states statute of limitations has nothing to do with your credit history. While the statutes of limitations prevent legal action it does not change your history nor does it affect the federal laws on credit reporting.

Live with it.

Reply by
Bradybunch1319

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That is a bunch if BS. You are a debt collector aren't you? Do not tell lies because that is fraud!!!

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Wait.

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The Fair Credit Reporting Act is a federal regulation that requires reporting of all credit accounts for 7 years past their date of last activity (usually payment).  So this account has to stay and cannot be removed.  The SOL only applies to collection, not reporting.

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