Q: I once had Sprint serviced back in 2008, I left that phone company to go to another and I still owed a balance
That phone company is still on my credit because they updated the late paymentsto the credit bureau so does the SOL from the last date I paid or the date which they updated
A: Usually from the date of the breach of contract.
A:
The 7-year limit on reporting delinquent debt begins on the date that the account becomes delinquent and is never current again. So, the answer to your question is probably "neither," but would be that point in time slightly later than your last payment when you failed to make a payment when due and then never made another one . Changes made by the creditor, transfer to a debt collector or debt buyer, etc. does not re-set the time limit. However, there are certain actions you can take that can start the reporting period over, such as entering into a payment agreement or making a payment of even $1.
*David Levin is the Partner in charge of UpRight Law's consumer rights litigation department. UpRight Law is a national law firm with licensed attorneys providing bankruptcy and consumer legal services in all 50 states. He is licensed in Illinois, Ohio and West Virginia, as well as several United States District Courts. He has 22 years of litigation experience, the last 18 of which have been focused on consumer rights litigation. This response is for informational purposes only and is not intended to be legal advice. For legal advice, consult an attorney licensed in your state with the appropriate expertise.
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