collection agency threating to sue?

Question

hello,
i recived a nasty call from a law firm last week demanding on a 4384 for a old account i had if i dont pay today we are going to sue you. i know about it and i am broke i cant pay it. I told this guy to bleep-off. Changed my phone # right after that. I pulled up my credit and i looks like it first became 30late in Dec 2000, my last payment ever on this was Nov 2000. I know there is a thing called SOL, what would mine be? and when dose it start i live in MN

Answer 1

If your last payment was in the end of 2000, why are they just now calling you? That was almost 7 years ago. Is there a statute of limitations on this type of thing? If there is, they have till the end of the year only to sue you.
Tell them to take you on Judge Judy -- she pays if you lose. It still goes on your record, but you don't owe a dime to it.
Or, you can file for bankruptcy and clear your financial record. Just make sure that you don't plan on moving or buying a car anytime soon.

Answer 2

Yes they can still sue but it will be a waste of there time, in saying that they are just threaten you and that is illegal. you should of not went out of the way of changing your phone #.
OK here is the dirt on the SOL
In MN the SOL is 6 years from the Last Payment, looks like a last payment was Nov. 2000 so you are in the clear. Warning!!!! they may send you to court taking a bet that you do not know this info.... Then you MUST show up and tell the judge that this is outside of your states SOL. One other thing was this debt ordinated in MN, if it was originated in another state that has a longer SOL they get to choose that state.

Answer 3

First of all, there is a good chance that it wasn't a law firm that called you. Just some guy trying to do his job.

If you don't have the money to pay it, you don't have the money. However, next time someone calls, get the persons name, the company they are calling from, and the address of the company.
Tell them they need to send you a copy of the debt in writing.

If this is truly your debt start paying them 5 - 10 bucks a week until it is paid off. When reviewing your credit report, lending institutions like to see that you handled your debt instead of running away from it.

The WORST thing you could do is to take out a loan to pay this off. You will get a horrible intrest rate and your credit score will go down if you open up another line of credit.

After this is taken care of, be very careful with your credit.

Answer 4

They can sue, but they're going down a road of trying to pull blood from a stone. You can easily file for bankruptcy and be done with the matter and they get nothing. You have a right, within 30 days of their initial written contact to request a verification of the debt (this buys you at least another 30 days). If they can't provide this, then they're the ones SOL. Or at the very least they'll pawn it off to a different collector and you can repeat the process again. They'll eventually either go away or offer to settle the debt (if you even owe it) for pennies on the dollar. Hang tight and exercise every legal option you have at your disposal to push back on them and, hell, if its from 2000 its probably off your credit report by now anyway.

Answer 5

Go to the web site listed below. It's for the Fair Debt Collection Practices Act, and it lists the SOL and laws for your state. You'll find your most accurate answers there.

Answer 6

I get those. I just ignore them. My credit is shot, but I haven't been hauled into court yet.

They try to use scare tactics on people. As long as no interest has been added after the account lapsed, you may as well let it ride until you get more money coming in and/or want to make a large purchase that requires good credit.

Answer 7

Dont admit to the debt unless you want to pay.

Answer 8

they cant do $hit just ignore them