threatening me like they do that he was going to file a judgement blah blah. I sent a letter telling him that the statute of limitations had run on that debt and please not to further contact me in regards to it because I know my rights (never did I actually IDMIT that i owed it or say I was gunna pay it as this was advice I was given) did i do the right thing?? advice please!!! i dont need to get a judgement againest me!
2007-04-25 09:28:14 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
Hmmm, I guess some posters fail to realize that there IS collecting SOL's in ALL states.
And no, contacting a collection agency or a collection lawyer does NOT restart anything.
(I don't know where some of these people get their information)
Robin - first of all, name calling isn't necessary. Second, you "claim" to be a collection agent yet you claim "no knowledge" of states collection SOL's???? Sheesh, you must be the pride of the office - not.
To the OP, you did good on sending the SOL letter. The lawyer would be an idiot if he/she goes ahead and files a law suit after being made aware of the "fact" that the account has passed the collecting SOL. (and could also run the risk of being smacked by the Bar Assoc. for it)
It would be easy violation money for you though if the lawyer did file, since after claiming affirmative defense of SOL you would have the right to file a counter claim against the lawyer/collection agency for filing on a time barred debt.
2007-04-25 10:45:11 · answer #1 · answered by echo 7 · 2⤊ 0⤋
This is one of those times that I wish the profile stated where the person is asking the question. I will assume that you are in the US although I do not know the state. Banking can be intrastate or interstate although mostly governed by interstate (Federal) laws. The way I understand the rules you would have restarted the time period by replying to them especially with a written response. Because the time is based onthe last contact they recieved from you. Whether a payment, or just an acknoledgement that they contarted you. I could be wroung about this.
If the debt is justifiably yours you should work out a payment plan with them. If not consider contacting an attorney.
2007-04-25 09:46:37 · answer #2 · answered by VTXrider 3 · 1⤊ 1⤋
If you are correct about the statute of limitations having expired, you have nothing to worry about.
As the legal time period to act has passed, any attempt to collect the debt legally would fail. You would have to appear in court and your defense would be that the statute of limitations had expired. If indeed that was the case, the Judge would have no choice but to dismiss the case, absolving you of that debt. The lawyer that contacted you is trying to scare you into paying because that is the only option he has.
Require that any further communication in this matter be in writing so that you have recourse against the lawyer should he continue to harass you.
2007-04-25 09:37:38 · answer #3 · answered by Anonymous · 1⤊ 1⤋
That relies upon on the statutes of impediment to your particular state. If the SOL has elapsed for a particular debt, it would not recommend that the debt "is going away" or is canceled; it in simple terms ability that the creditor won't be able to pursue criminal action for restoration. it may nonetheless attempt to collect with out criminal action. credit histories (consistent with the credit bureaus) and statutes of impediment are separate and unrelated issues. consistent with the FCRA, a debt remains on your credit background for 7.5 years from the date of default.
2016-10-30 06:57:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The only statute of limitations I know of where a debt just disappears is when you die.
If you are referring to the fact that it has fallen off your credit report, that's fine but legally, the creditor (or their representatives) still have the right to attempt to collect the debt.
If you signed an agreement or contract with someone and you are in breach of that, then you still owe money until it's satisfied or settled, regardless of the credit bureaus reporting or not reporting it. Yes, they can file a judgment against you.
2007-04-25 09:34:04 · answer #5 · answered by YSIC 7 · 2⤊ 3⤋
As a long term collection agent I have never heard of a limit of time that you can collect on a debt. They may file judgment against you. If they win, and if they have proof that you owe the debt, most likely they will, you will have to pay the debt, your attorney fees, and their attorney fees. Stop being a dead beat and pay your bills.
2007-04-25 09:34:57 · answer #6 · answered by Robin C 5 · 1⤊ 4⤋
you did precisely the right thing. NEVER admit that you owe anything, because that could re-open the statute of limitations.
basically, he was bluffing or hoping to trick you.
2007-04-25 09:32:01 · answer #7 · answered by Paul C 2 · 2⤊ 1⤋
Then pay the debt. If you did run up the debt, it doesn't matter what statutes of limitiations are on it. The right thing is to pay what you owe.
As far as know, there are no statutes of limitations on debt.
2007-04-25 09:32:45 · answer #8 · answered by ladywildfireok 3 · 2⤊ 5⤋