Credit report- State statue of limitation vs. the credit bureau 7 year limitation?
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I know that every state has a statue of limitaion for the amount of time a creditor can contiune to report your debt to the credit bureaus so my first question is:
is this based on the state that you lived in when you collected the debt (all of mine is from when I lived in the state of NC 3 yrs. statue of limitation but I now live in GA who has a 4 yr. statue of limitation) or is it based on the state that you currently live in?
2nd I know that a collector can report your debt for up to 7 years so what is the difference between the state statue of limit and the 7 year statue of limitation the credit bureau allow the collector to keep reporting?
3rd all of my debt ( around $6,000) is to be removed from my credit report s (this is what my credit reports says) by 2010, so should I try to pay the debt off which is going to take me more than the 2 years or just wait for it to be removed from my credit report?
Credit report- State statue of limitation vs. the credit bureau 7 year limitation?STATUTE
There is no 'statue' of limitations.
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