What do you say to debt collectors who are calling on debts from 1998? (SOL has run out)?

Answer 1

First, debt collectors don't care about statute of limitations, they care about the commission check, so don't even waste your time about that. Find out as much information as you can.
For instance, how long have they had the account, where did they get it, and NEVER GIVE THEM ANY INFORMATION ABOUT YOU, YOUR JOB, NOTHING. If they don't like it too bad. What I am going to explain to you is not pleasent, but it is the real world and this is how it works.
Here's the problem, and believe me there are groups lobbying for changes to this crap.
You have a bad debt that goes to collections. A collection agency tries to get you to pay, you don't and after awhile they sell your account to another credit collection agency. There is a little loop-hole in the law...
The loop hole is that when the first collection agency gets the account, you have a charge off on the original lender with a "date of last action" 1-1990, for example. The collection agency that takes it over now has the same debt, under their name with a new "date of last action" 1-1993.

What is happening here is that you now have the original creditor showing a charge off on your credit for 1990, and the collection agency has the debt on your credit for 1993. The 7 years statute of limitations starts with the first creditor in 1990, removable in 1997. THe collection agency has you from 1993, removing you in 2000. Can you see the pattern here.
Collection agencies have gotten smart, sort of. They keep selling these old accounts before the statute of limitation is up, thereby keeping the same bad account on a person's credit for years, litteraly.
The one saving grace for the consumer is that after the original creditors time is up, 7 years, the collection agency, depending on your individual state laws, usually cant sue or garnish your wages for the balance owed.
You must be aware, that every state has different laws. The federal law that governs this is the FDCPA,(Federal Debt and Collections Practices Act) and the Full Faith and Credit laws of the US.

I would suggest for you to contact your local credit reporting agencies, Transunion, Experian, and Equifax and find out how they are required to proceed under your state laws. Also, the web has extensive information, state by state on this as well.

Answer 2

LOL!! It friken kills me what kind of bad advice people give. Get a caller ID, R U kidding me? Look there is no reason to be mean, yell, or get yourself aggravated. If you are 100% sure that the SOL has run out then you can just politely ask the collector not to call or contact you any more and they can't it is against the law. That is your right. FDCPA section 805, you don't
have to hide or argue with anybody. If you have any other questions, e-mail me.

One more thing, don't worry about a debt being reactivated, once the SOL is up. Not admitting to owing a debt doesn't do anything so I don't know where that asinine wisdom is coming from.

Answer 3

The link below goes into some detail about the SOL, and what each state's SOL is...so read up.

IC is correct. The SOL only relieves you of the legal obligation to pay. It does not mean the creditor can't try to collect. They just lose the ability to sue you in court. That only leaves them with harrassing you.

And make sure you send the cease and desist letter by certified mail! Many collection agents will ignore a demand over the phone and continue to pester you. Without proof of notification, you have no way to prosecute them.

Johasz....reactivating the SOL is an art that some collectors know very well! All it takes is an offer to pay, or an actual payment, and the SOL clocks starts again. One of the favorite tricks is to tell the debtor to send in a "tiny" payment of $5 as a good faith offer. That's all it takes. I've seen it happen.

Debt volation laws are extremely vague in many states, so care is recommended whenever talking to a creditor.

Answer 4

Jonasz is right. But you better make sure that the SOL is up. Email me with the state you live in and I will tell you what the SOL is in that state.

You need to do a little more that just tell them over the phone to stop. You need to send them a letter, return receipt proffered, telling the to cease and desist. ONLY DO THIS IF THE SOL IS UP or the next this up will get is a court summons telling you that you are being sued.

Just because the SOL is up does not mean that you do not owe the bill or that the collector has to stop collecting. It just means that they can't sue you anymore.

Answer 5

Don't acknowledge the debt first of all unless you intend to pay it. Next thing to do is tell them to quit calling you, if they do not stop calling file a cease and desist order with them. They have to stop contact once a cease and desist order has been issued.

Answer 6

Do not discuss anything with them. They can reactivate an old debt if you give them any information to go on. For example admitting that was your debt.

Answer 7

Try creditsolutions.com They deal in that sort of thing. They might be able to help

Answer 8

get caller ID and don't answer the phone when they call lol

Answer 9

so sad too bad so sorry for your luck, nothing they can do about it hunni....that is exactly what i would tell them ( what i said above ) lol