I have a credit card debt due to fraud that dates back 12 years. Is it easier at this point to just tell the company I'm not paying due to statute of limitations? Proving that it wasn't me due to the length of time would be very difficult if not impossible. I already told them about the fraud and they have'nt gotten back to me.
If I do handle it this way, do I have to worry about it staying on my report? Is there any way to deal with that? Should I negotiate with them? (they already offered to cut the debt in half if I paid it by form letter). But the idea of eating someone else's debt from a crime against me is infuriating!
2007-06-01 14:05:10 · 4 answers · asked by Pooka 4 in Business & Finance ➔ Credit
Gotcha is off base. First of all, the link is to EFT regulations not to FDCPA statutes.
Second, claiming a person only has 90 days from the fraud to act or else the person is "totally liable" - no.
A person has one year (generally from the date they become aware of a violation) to file an action against the violating collector.
If it was from fraud, the person is not liable for it. But that person would have to utilize their rights to make sure they are not held responsible.
Anyway, IF it has been 12 years since the fraud account had gone bad, it should no longer be reporting.
It should have dropped off, and remained off, years ago.
And, there are "no" states that have a 12 year collecting SOL for credit cards
Hopefully you sent them something by mail, and sent certified return receipt, claiming it is not your account and requesting that they show proof that it is (validation).
If you did it by phone, send them a letter. Make them "prove" that it's yours. Do not sign the letter, print your initials or type your name.
When you get the green card back, file a dispute with the CRA's.
You might claim it as not yours and that it is also past the reporting period and must be deleted.
You might click on my profile and do some reading in the links I have provided - the FDCPA, etc. and especially in the last link listed.
2007-06-02 12:10:27 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Unfortunately, you only have 90 days (a timely fashion) from the time of fraud before you are liable for the whole amount.
Why did you wait so long to claim the fraud? Your best bet now would be to cut your losses and pay the half the company offered. if you neglect to pay this will affect your credit.
2007-06-01 23:29:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's long past the statute.
Do not pay anything, not even a dollar. That will reset the statute.
Do not negotiate or even acknowledge any debt.
You have no legal, moral, or ethical reason to pay, if you were the victim of fraud.
It should have fallen off of your credit report after 7 years.
If it is still on, you can demand it be removed.
Not sure why you didn't take action when the charges happened, but that is your business.
2007-06-01 21:10:57 · answer #3 · answered by No Chance Without Bernoulli 7 · 0⤊ 2⤋
It should have been removed from your credit report after 7 years. Get a copy and see.
2007-06-01 21:08:57 · answer #4 · answered by Anonymous · 0⤊ 2⤋