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Can a collection account, SOL expired, be removed from credit report?

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My friend Lisa is going to take out a mortgage loan but she has a collection in her credit report. The SOL period has expired on that debt. So, can it be removed from the credit report? What steps she needs to take.




Send a written letter to the credit bureaus saying that you’re disputing the information because it is wrong and outdated.

Sub: #1 posted on Tue, 08/22/2017 - 17:59

sanderspatricia29 sanderspatricia29

(Posts: 683 | Credits: 71.47)

You didn't mention the state where she is applying for the mortgage. As the SOL has expired, the negative item should be dropped off from her credit report after 7 years.
So, without wasting time, tell her to dispute the error by sending a complain to the credit bureau for removing the outdated information.

Sub: #2 posted on Tue, 08/22/2017 - 18:34

tiarajoseph11 tiarajoseph11

(Posts: 317 | Credits: 44.37)

There are two different time limits for any outstanding debt. One is the Statute of limitations and the other is the Credit reporting time limit. Obviously the collector can’t sue you if the SOL has expired. Generally the reporting time limit for a negative debt account is 7 years.
If the information on the credit report is wrong, then your friend can send a dispute letter to the credit reporting company and get it removed. If the information is correct, then it will be difficult to remove.

Sub: #3 posted on Wed, 08/23/2017 - 16:20

Phil Bradford Phil Bradford

(Posts: 166 | Credits: 16.94)

I am afraid. Your friend can do nothing. The negative listing will drop from your friend's credit report only after 7 years. The SOL has nothing to do with it.

Sub: #4 posted on Fri, 08/25/2017 - 09:09

ditchdebt ditchdebt

(Posts: 665 | Credits: 253.81)

The negative listings usually stays in the credit report for 7 years.
Lisa can explain to the mortgage lenders that she has learnt to manage her debts better, and the positive items are also reflecting in her credit reports.

Sub: #5 posted on Fri, 08/25/2017 - 18:50

Good Nelly Good Nelly
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(Posts: 2668 | Credits: 533.16)

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