[mellucido]

This is probably somewhere in the archives and I really did search for it but could not find it. Now here's a (probably) dumb question----there are different sol times for different types of accnts---yes? For instance a counseling service might be different sol than a credit card.

I have procrastinated doing this credit repair because I don't have a lot of time to learn everything----so I'll take it a step at a time and when it gets done it gets done.

One more thing----where is the list of abbreviations---like sol, dh, cr and their meanings.

Thanks for everything,
Mel

[hannah]

Oral agreements: 2 years
Written contracts: 4 years
Promissory notes: 4 years
Open accounts (such as credit cards): 4 years

California Code

337. Within four years:
1. An action upon any contract, obligation or liability founded upon an instrument in writing, except as provided in Section 336a of this code; provided, that the time within which any action for a money judgment for the balance due upon an obligation for the payment of which a deed of trust or mortgage with power of sale upon real property or any interest therein was given as security, following the exercise of the power of sale in such deed of trust or mortgage, may be brought shall not extend beyond three months after the time of sale under such deed of trust or mortgage.
2. An action to recover (1) upon a book account whether consisting of one or more entries; (2) upon an account stated based upon an account in writing, but the acknowledgment of the account stated need not be in writing; (3) a balance due upon a mutual, open and current account, the items of which are in writing; provided, however, that where an account stated is based upon an account of one item, the time shall begin to run from the date of said item, and where an account stated is based upon an account of more than one item, the time shall begin to run from the date of the last item.
3. An action based upon the rescission of a contract in writing. The time begins to run from the date upon which the facts that entitle the aggrieved party to rescind occurred. Where the ground for rescission is fraud or mistake, the time does not begin to run until the discovery by the aggrieved party of the facts constituting the fraud or mistake. Where the ground for rescission is misrepresentation under Section 359 of the Insurance Code, the time does not begin to run until the representation becomes false.

337a. The term "book account" means a detailed statement which constitutes the principal record of one or more transactions between a debtor and a creditor arising out of a contract or some fiduciary relation, and shows the debits and credits in connection therewith, and against whom and in favor of whom entries are made, is entered in the regular course of business as conducted by such creditor or fiduciary, and is kept in a reasonably permanent form and manner and is (1) in a bound book, or (2) on a sheet or sheets fastened in a book or to backing but detachable therefrom, or (3) on a card or cards of a permanent character, or is kept in any other reasonably permanent form and manner.

Link for Terms and Acronyms.

[mellucido]

I am sure I will have other questions once I get my 3 reports. I appreciate your knowledge---hope I can help others someday too.
Mel

[mellucido]

I am sure I will have other questions once I get my 3 reports. I appreciate your knowledge---hope I can help others someday too.
Mel