Collection Agencies - CREDIT ACTIVITY - Canada

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RE: CREDIT ACTIVITY

Postby TJ.brooks » Sat Nov 03, 2012 05:59:42 AM

If the SOL has infact already expired, nothing you do can restart it.
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RE: CREDIT ACTIVITY

Postby TJ.brooks » Sat Nov 03, 2012 05:58:11 AM

Obtaining a copy of your report has nothing to do with restarting the sol.
Last activity on account means the actual account you owe on.
If you make a payment on that account before the 2 yr SOL has expired then yes it resets the clock back to 2 yrs.
You can also reset it by acknowledging the debt in writing with your signature.
But again....getting a copy of your report will do nothing to reset SOL.
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CREDIT ACTIVITY

Postby asadimran » Sat Nov 03, 2012 05:32:50 AM

Footloose thanks for your detailed reply. My question was in regards to S.O.L., that if a person ask for credit report from credit agency so it will count as an activity and will restart the clock for 2 years??? plz explain. Thanks
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RE: CREDIT ACTIVITY

Postby footloose » Sat Nov 03, 2012 12:01:39 AM

Every time a credit grantor requests a Credit Report from either Equifax or TransUnion, it will show as a "hard" inquiry or a "hard" pull and will remain on the Equifax Credit Report for 3 years and on the TransUnion Credit Report for 6 years.

If you request your own Credit Report, this inquiry will NOT show on a Credit Report but will show as a "soft" inquiry or a "soft" pull on a Consumer Disclosure Report which only you can receive.

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Educating one Consumer at a time
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CREDIT ACTIVITY

Postby asadimran » Fri Nov 02, 2012 10:13:03 PM

IF A PERSON CONTACT THE CREDIT AGNCIES FOR A CREDIT REPORT DOES THIS COUNT AS AN ACTIVITY ON THE ACCOUNT AND IT SHOW IN STATEMENT NEXT TIME. CAN SOMEONE PLZ ENLIGHTEN ON THIS.
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