A company sent me a letter the other day saying that they had bought out my account. I have not had this account for over 20 years and the company wrote off the debt. Can this other company place this on my credit report?
2007-05-15 09:14:09 · 1 answers · asked by oklongbunch@sbcglobal.net 1 in Business & Finance ➔ Credit
Since you say it is a credit card and not a judgment (or a government deb) - then no they cannot place it on your report and at 20 years you are long past the collecting SOL for all states.
If this is for a judgment, the answer would be - it may be possible.
If it's not a judgment, then it's probably a junk debt buyer that you are dealing with. You have a legal right to send them a SOL letter which tells them the "alleged" account has passed the legal collecting SOL and to take a hike.
Sample SOL letter template --
http://whychat.5u.com/nottoca.html
If you have any questions on how to use the letter, you might click on my profile and go to the last link listed and ask in the credit forum.
2007-05-15 09:25:28 · answer #1 · answered by echo 7 · 1⤊ 1⤋