2007-06-15 04:47:46 · 6 answers · asked by lbcpj 1 in Business & Finance ➔ Credit
The SOL is your defense in court if they sue you. It doesn't always mean they are not entitled to collect the money owed.
You need to research Florida laws and determine exactly what the CA is allowed to do by law. If they are breaking the law, go after them and offer to settle for a deletion.
Edit: Do not hire anyone to work on your credit. You can do it yourself for free.
Patti P must work for a CA posting lies like that LOL
2007-06-15 04:51:38 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Yes they can still collect because the 4 yr limitation will never end. How it works is this way: if one collection agency cannot get the money from you within that time frame, they will sell the debt to another collection agency and so on and so on...... every time the debt is sold to a new agency, then the 4 yr limitation starts all over again.
best thing to do is to make arrangements to pay it out in payments
2007-06-15 12:09:25 · answer #2 · answered by patti p 3 · 0⤊ 1⤋
Wow, I am suprised that some of the people here acctually answered right!
The only thing they can do after the SOL has run, is ask you to pay it. They CAN NOT DEMAND payment and they CAN NOT take any type of legal action.
The SOL is 4 years fomr date of last charge or date of last payment. Which means that if you did nothing onthis debt for 3 years and 11 months and then you paid the collection agency even $1.00, they now have 4 more years to collect.
2007-06-15 18:36:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Pursuant to the Fair Debt Collection Practices Act, a debt collector (this includes so-called "bad debt buyers or as we call them in the industry "scavengers") is prohibited by law, to re-age any debt that is over 7 years old. First, you have to write to the debt collector and have them validate the debt. Validation means the date the account or debt went into default, more than 90 days old. After that, they are on the 7 year clock. For information about how you can be your own credit and debt counselor, a good website to visit is: www.new-century-publications.com
2007-06-15 12:35:55 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The statute of limitations only refers to the creditor's ability to seek a judgment against you for the debt. It does not erase the debt, and the CA can still attempt to collect it.
2007-06-15 12:07:39 · answer #5 · answered by acermill 7 · 0⤊ 0⤋
Now for the correct answer.
If the S.O.L. has expired their is nothing they can do legally. They can ask you to pay but if you don't they can not sue you and they also can not re-age the account that is illegal.
2007-06-15 12:34:14 · answer #6 · answered by ? 7 · 0⤊ 0⤋