credit card company comming after me been 5 yrs ago?

Question

is there a statute of limitations on credit companys its been 5 yrs since last payment did not receive any letters from them in yrs also.

Answer 1

Yes there is a collection statute of limitations.
You would need to check your state statutes to see what yours is.
You can click on my profile and click the link I have listed to find your collecting SOL.

For credit cards, the collecting SOL would either start to run from the first time you became 30 days late and never brought the account current leading to the charge off OR it would be from the last time you made a payment or charge on the account before it was charged off.
Which one just depends on your state.

The reporting SOL starts the first time you became 30 days late and never brought the account current leading to the charge off, and runs for 7 years from that date. The reporting SOL "cannot" legally be re-aged.

If you are still in the collecting SOL or not, you should first send a validation letter.
If you are out of SOL, after you receive their attempt at validation, or 35 days have passed since they signed the green card - send them a SOL letter.

If they are reporting, check your reports for "any" inaccuracies that they are reporting (they usually have a few)
After you get the green card back from your validation, send a dispute to the CRA's for the violations.
Don't dispute every violation the first time, save one or two in case you need to file another dispute - or you will only get a "previously investigated" remark from the CRA's.

If you use a paid report from each CRA, the CRA's have 30+5 days to investigate and notify you of the results (the 5 days is for mailing the results)
If you use the free FACT-ACT reports, they have an extra 15 days to investigate - that extra time could mean the negative remains instead of being deleted.

If the inaccuracies are verified instead of corrected or the trade line deleted, after you send a second validation request (if you are still in SOL) or after you send a SOL letter (if you are out of SOL) when you get the green card back, dispute with the CRA's again.

If the trade lines are verified again, leaving the inaccuracies, file complaints with the BBB, FTC, yours and the collection agencies AG's.

The validation letter that dragonfire listed is a good one, but it is one that should be used on the 2nd or 3rd validation attempt. Generally for a first attempt, less is best.

If you do send the letter dragonfire posted, and you have no intention of filing legal action on their violations, you should remove the legal action references before sending it. Never threaten legal action if you have no intention of following up on it.

Since you had not received anything from them in years, you might send the following letter for your first attempt, and save dragonfire's letter for the 2nd (if needed)
.

Your Name
123 My Street
MyCity, State 23456

XYZ Collections
666 NotOnYourLife Ave
TheirCity, State 66666

Date: _________

Re: Acct # XXXX-XXXX-XXXX-XXXX

To Whom It May Concern:

In a recent review of my credit report(s), I noticed that your company has placed an erroneous and derogatory entry(s)
The account number referenced above is all the information that I have concerning this alleged debt.

Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.

I would also like to request, in writing, that no telephone contact be made by your offices to my home or to my place of employment as it is inconvenient to me. All future communications with me MUST be done in writing and sent to the address noted in this letter by USPS.

Best Regards,
Do not sign name - type it in only



Everything you mail to the collection should be mailed certified mail return receipt.

Answer 2

If the credit card has him listed as primary account holder and he got an additional card for her to use as an authorized user. He is out of luck. The only way he can get her to be responsible for the debt would be through divorce court.

Answer 3

If you owe, pay up. Just because you hid from them for a while doesn't give you the right to not pay your debt. You used the card to buy something, you owe. So pay. Maybe you could ask them to relieve some of the interest. But you certainly should pay all of the principle and some of the interest.

Answer 4

you'd have to check your individual state regulations, but usually they can pursue that debt for 7 years. i may have the name wrong but there is legislation called the Fair Credit Collections and Reporting Act that sets up the regulations for collections. Look at www.daveramsey.com for better info.

Answer 5

Pay up what you owe. If you do not and you get away with it, it will be unfair to those who do pay up and also make it more expensive for all in the future. Always behave in a way that makes you proud of yourself.

Answer 6

i think its 6 years for credit cards. its a wonder they did'nt sell the debt to a cllector

Answer 7

After 5 years they can still but you...but you can demand they only write you. That if they keep calling you it is harrassment and you will charge them.

Answer 8

usually after 5 years it's not the credit agency but a collections agency that is coming after you.
so to that extent write a certified letter like the following



Month Day, 2007


Dear _____________________:

This letter is being sent to you in response to a notice sent to me on Month Day, 2007
. Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.

This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.

Please provide me with the following:
• What the money you say I owe is for;
• Explain and show me how you calculated what you say I owe;
• Provide me with copies of any papers that show I agreed to pay what you say I owe;
• Please evidence proof of the alleged debt, including specifically the alleged contract or other instrument bearing my signature.
• Prove the Statute of Limitations/UCC has not expired on this account
• Show me that you are licensed to collect in my state.
• Provide me with your license numbers and Registered Agent

At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureau’s (Equifax, Experian or TransUnion) this action might constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you for the following:
• Violation of the Fair Credit Reporting Act
• Violation of the Fair Debt Collection Practices Act
• Defamation of Character

If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease and desist.

Also during this validation period, if any action is taken which could be considered detrimental to any of my credit reports, I will consult with my legal counsel for suit. This includes any listing any information to a credit reporting repository that could be inaccurate or invalidated or verifying an account as accurate when in fact there is no provided proof that it is.
If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately.

I would also like to request, in writing, that your offices make no telephone contact to me at my residence or my place of employment. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by USPS.

It would be advisable that you assure that your records are in order before I am forced to take legal action. This is an attempt to correct your records; any information obtained shall be used for that purpose.


Regards,

Answer 9

Nope. Pay the bill you deadbeat.

Answer 10

do not pay!!!