Legal Question in Credit and Debt Law in New York

Re: credit report repair

From the date that the debt was first due and not paid.

Re: credit report repair

By the way, if you incurred the debt in NY, then NY law would apply to many issues. HOWEVER, Virginia (like most States) would apply the SHORTER of its own statute of limitations OR the statute of limitations of the other state (NY). So you would get the benefit of Virginia's statute of limitations if it is shorter than New York.

However, if you are asking when the credit bureau must stop reporting it, that is an entirely different question. Bascially Congress passed a bunch of rules, and then made it impossible to enforce them. So the credit bureaus can do whatever they want. They report people who are alive as being dead. Etc.

But they cannot collect on it.

If it is a consumer debt, they MUST bring the lawsuit in the County where you live under the Fair Debt COllection Practices Act.

The SoL is 5 years from the date that payment was due and not made for a written contract.

3 years from the last date services or goods were provided for a written contract OR WHEN THE LAST PAYMENT WAS MADE. So, ironically, if you make a payment you get punished by having the statute of limitatons "clock" reset to 0.

Technically the payment rule does not apply to written contracts, but this is not a clear area of the law and a lot of judges might count your payments for resetting the clock even for a written contract. I think that is wrong under the law, but they may do it anyway.