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     | Monday, November 27, 2000 - 10:01 am  Question: Is the 7 year clock based on the last activity date or the last date on which the collection agent/credit card company reported to the CRA. For example I have a outstanding amount of $9,000. The last activity date is 11/1994 but the last date that the CRA got a update on the account was 10/2000. So which date is the 7 year clocked based on 11/1994 or 10/2000. This will decide if I settle the debt or not. Based on the 1994 date I can let it slide for one more year. Advise/Opinions. Thanks
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| | Monday, November 27, 2000 - 10:39 am The 7 year clock starts on your first day of delinquency, it goes for 7 years plus 180 days I believe. The FCRA revised their guidlines in 1997, b/c agencies were selling accounts and trying to restart the clocks.
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| | Monday, November 27, 2000 - 10:42 am One more thing, the only clock that can restart is the SOL if you make a payment, so if you try to settle get it in writing.
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| | Monday, November 27, 2000 - 09:38 pm Thanks, Annmarie. There's some more info at Why and how to dispute incorrect DATES for collections/charge-offs
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| | Tuesday, November 28, 2000 - 08:48 am Ok I have a situation similiar to this. I have past due account on my credit report and on the same report a collegction agencies entry for the same debt. Should the date be the same for the delinqency or is the collection agency able to establish a distinct date from when they picked up the account? Also where do you get SOL information for a particular state. In my case GA would be the one Im interested in.
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| | Tuesday, November 28, 2000 - 02:16 pm First off I would dispute the two listings, this should only be reported once, dispute this as being duplicate entry. The first date of delinquency starts the 7 year clock. As for SOL, you may want to try kristi's site at: www.carreonandassociates.com , once you get there go to the site map and then you will find alot of useful information and also the site will take you to the SOL for every state.
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| | Tuesday, November 28, 2000 - 08:27 pm Look up the Statute of Limitations for written and oral agreements and promissory notes and judgments in YOUR State
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