Please explain

[jwaustin2101]

Ok in NC there is sol of 3yrs on open accts and written contracts with a 5 yrs sol on promissory notes. My question is if i pull my credit report and ask all these companies to validate ther credit claims under the fair debt act as well as NCGS 58-70-xx and they can't, shouldn't this mean that i can then have this removed form my credit report before the 7 yrs(under the UCC) has expired? How would one go about doing such an act?

[seniorjudge]

Originally Posted by jwaustin2101

Ok in NC there is sol of 3yrs on open accts and written contracts with a 5 yrs sol on promissory notes. My question is if i pull my credit report and ask all these companies to validate ther credit claims under the fair debt act as well as NCGS 58-70-xx and they can't, shouldn't this mean that i can then have this removed form my credit report before the 7 yrs(under the UCC) has expired? How would one go about doing such an act?

Contact the credit reporting agencies and ask them your questions.

[Ladynred]

The expiration of the STATE SOL for legal action to enforce collection of a debt has NO bearing whatsoever on the REPORTING of those same debts. They can legally be reported for 7-1/2 years from the date of first delinquency regardless of the SOL in ANY state.