Removing a debt after the statute of limitations
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I have a debt on my Equifax credit report that has passed the statute of limitations. How can I get it of my credit report?
I live in California, where the SOL on written contracts is 4 years. Since my Equifax report clearly states that the debt was place on July 2007, I figured it should have gone away by now. Or should it?
Like so many, you’re confusing SOL with the credit reporting time
The Statute of Limitations (SOL) is the time frame to bring lawsuit and has nothing to do with how long something appears on your credit report.
While SOL is based on state laws and varies between states, the reporting period is based on the FCRA, which is a federal law). Most derogatory items age off your credit report 7-1/2 years from date of first deficiency (default), and nothing restarts this clock (See how-long-do-negative-items-stay-on-my-credit-report.html for a complete list of all derogatory items and their reporting time limit).
If a collection agency or someone else sues you after the statute of limitation has passed, you can use the SOL as an affirmative defense to the lawsuit. But there’s nothing you can do to remove that negative item from your credit reports before that 7-1/2 years reporting period expires.
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