My husband had a credit card ten years ago we bought a house credit was clear now the collector is calling?

Question

went we buy the house they check our credit we had to pay any debets in oder to get the load one week ago they call me from collecting agency saying the we owe that many from the credit card my husband paid part at that but then he stop because the deficult situacion we went through, is already 10 years we bought the house last year I dont understand why the debit is there now and what I have to do? thank for you attention.

Answer 1

I am a bill collector by trade and live in Canada.
Here there is the statue of limitations.After 2 years that debt is called stat barred, meaning uncollectable. If the card was with a Bank most Banks will do a settlement on the account example here if it is a Royal Bank Visa it is at 50% of the balance and the agency can give you that. Another thing if your name was not on that card and the collector told you why he or she was calling that is against the Privacy Act and the collector is in violation of releasing information to a third party. suggestion is to have your husband contact the bank or the card provider chances are they found him when the credit bureau was searched for the mortgage loan. Also try a hardship letter but like I said should be stat barred.Collectors work on a salary and also on a floor commission of total commission dollars collected in a month example my floor limit was $10,000.00 anything above that I would get 25% com if at month end I collected $15.000.00 I would get 25% of that on my check along with my salary. If you are getting more calls than 1 in a 7 day period that is also not legal.

Answer 2

It's possible the credit card company wrote it off from their book once and sold it (with other outstanding debt by other people) to a company/individual. If this the case, the company/individual bought the rights to collect debts really cheap since these debts were considered noncollectable. So your chance of negotiating and pay it off at discount is very good. Just offer to pay something (one time) and see what they say.

Answer 3

Don't pay and don't talk to them again. Anything over 7 years old is wiped off your credit report, if you talk to them or make a payment, it will go back on your credit report. This is a new scam collectors are pulling off. That debt is already written off. I have read multiple articles lately that talk about just this situation, where paying a bill can actually hurt your credit!

Answer 4

If it is really his credit card, just because they didn't see it when you bought the house isn't a reason to not pay it. You probably can settle the debt for a large discount. If you doubt that the debt is his then dispute the debt and they have to give you some type of verification. If you are the type that isn't motivated by your moral obligation to pay, then it is probably past the statute of limitations, they can call, but they can't sue you for it if it is past the statute.

Answer 5

I totally agree with the final poster. After 7 years, it goes away. If the original creditor SOLD the debt to another company, chances are that the buyer does NOT have the original paperwork. You need to dispute that debt on your credit report. The creditor has 30 days maximum to provide original documentation in regards to the debt. If they do not, the debt has to be removed from your credit report. Period. It's the law.

Answer 6

If the credit card was not paid in full including any interest charges, any penalties, etc then yes the money is still owed and needs to be paid back in full or you will still get calls from collectors.

Answer 7

That happened to us too. They sold the old account to someone and they are trying to collect. Send a registered letter to them asking for the original debt and evidence that you owe it because you don't have it anyplace and they have to prove to you that you owe it. They may not have the original papers and they won't be able to get them from so long ago. They are just trying to get you to pay out of fear. After this long they aren't really entitled to it. It's been too long. Ask for proof and tell them your lawyer is asking for it, that he told you not to pay it since you have no record of it and he told you to get proof of the debt first, that is what you are asking for.I sent them a copy of a letter that I wrote and a cc: at the bottom with a lawyer's name on it to let them know I wasn't messing around. They don't know if you have a lawyer or not right? Don't let them bully you....type a letter, send it and keep a copy. Send it registered to the person who is calling or writing you and keep the receipt, stand up and say no. Good luck.