SOL start date

[different]

What is the name of your state? Texas. I owe tuition and fees to a college I attended Aug. 1996 in Louisiana. Last payment July 1997. Its has never showed up on credit report. So, when would the SOL have started?

 

[cmorris]

Do you owe the school or is this a loan?

If you owe the school (as in, never applied for financial aid), this could be a written contract (SOL is 10 years) or a promissory note (SOL is 5 years). Source: http://community-2.webtv.net/YCHANGE/STORAGE/page16.html

The DOLA is when you defaulted. I'm sure this is a promissory note, so the SOL ran out in 2002. But if it is in fact a written contract, it won't run out until 2007. But, I'm confident it is a promissory note.

If this is a federally backed loan (like Stafford, Perkins), there is not a SOL. You will always owe it until it is paid.

 

[different]

SOL which state's SOL would apply.

I owed the money to the school, no student loan. I also had wrote the school a letter saying I would pay on this debt monthly back in 1997. If they sue me, would they sue me in Lousiana or Texas? I reside in Texas. I never had a mailing address in Louisiana when I was at College, always used my address in Texas.

 

[JETX]

I owed the money to the school, no student loan. I also had wrote the school a letter saying I would pay on this debt monthly back in 1997. If they sue me, would they sue me in Lousiana or Texas? I reside in Texas. I never had a mailing address in Louisiana when I was at College, always used my address in Texas.

Since this school is in Louisiana, and the agreement was made directly with the school, it is very likely that Lousiana laws would prevail.
Most states provide for a freezing of the SOL when/if the debtor leaves the state. A cursory review (of the very confusing) Louisiana laws did not reveal whether they have this 'freeze' provision, but it is likely.
If they do... then your entire defense of SOL tolling may be tossed.

I suggest you consider contacting a Louisiana attorney and finding out about this issue.

 

[different]

Reporting or inquiring?

My state is Texas. Today I received my credit report from Equifax. I noticed in the section were business inquiries your credit report which have a negative affect on obtaining credit. The collection agency was listed there. Is that reporting or just inquiring? Its been 7 years so the collection agency can't report it on my credit report right?

 

[cmorris]

It is an inquiry. See creditboards.com and use the search feature for permissible purpose. They would be reporting if it listed with other accounts.

 

[different]

Inquiries?

My state is Texas. I was reading on the suggested website its called a hard inquiry. That is what the collection agency pulled. Can they pull a hard inquiry if the account is not and never has been on my credit report?

 

[different]

Validation

If I validate, will the collection report it on my credit report? The account is almost 8 years old. Its currently not on my credit report.

 

[JETX]

If I validate, will the collection report it on my credit report? The account is almost 8 years old. Its currently not on my credit report.

If the debt is over 7 years old, you can have it removed if put 'in error' by a creditor or agency.