debt collectors?

Question

I have got a statement from a debt that is at least 9 years old , I had to quit work because of a disability and now I draw disability ,I have been told I should seek a attorney to see what to do ,this is from a collection agency that has been referred to them by another financial service ,what should I do because I truly do not have the income to pay this bill ,I have not contacted them yet ?

Answer 1

I do know that when u are on disability that they are supposed to satisfy any debt and when U are getting something that old U should contact them because a debt is only supposed to be on your credit report for 7 years.Good Luck!

Answer 2

Lots of great answers...

Let me give you some background. There is a breed of collection agents who specialize in purchasing very old debts, then try to collect on them. They are very good at harassing you, threatening you, and many times even file a lawsuit.

They depend on the fact that most debtors do not know the law, do not understand their rights, and don't know where to go for help.

As mentioned, all of the states have statute of limitation laws. What that means is the creditor has a specific amount of time to take legal action to collect the debt. Once that time has expired, they can not legally sue you.

But......the catch here is you need to now the law. Unless you give an "affirmative defense" and tell the judge the SOL has expired, the creditor will win the lawsuit.

This is why these scumbags buy old debts. It's a gamble, and the odds are in their favor. Here's how it works.

Buy an old debt of $1000 for only $50. Spend $100 for the lawsuit (which they get back if they win)....and hope they win by default. This is what happens in 90% of the cases! Look it up, it's true! So they win a $1000 bet for only $50 investment.....not bad!

Send them a letter informing them that you aware of your rights, and the SOL has expired. Tell them to go away.

Answer 3

Do not contact the debt collector. If they have your phone number and you answer, hang up. A debt that is 9 years old is way past the statutes of limitations. Somehow, your debt was put into the computer and someone is reaching for a commission. If you contact them or try to pay back little by little it will go on your credit report and you will have a bad credit remark from the day you start to pay anything or say anything. Ignore this debt.

Answer 4

9 years is a long time to press for payment of a debt. Truthfully, if you cannot afford to pay the debt, you probably cannot afford an attorney to fight it either. You could try contacting the collection agency and explaining your situation. At worst the collection agency can put a hold on some future wages. they cannot take disability payments

Answer 5

Talk to a lawyer. If you incurred the debt nine years ago but collection efforts have only begun now, then the statute of limitation may have already run out and you may not be liable. Under no circumstances agree to pay the debt before you have spoken with an attorney.

Answer 6

First, visit here:

http://www.bankrate.com/brm/news/cc/20040116b2.asp#mt.asp

This will give you the Statute of limitations for your state. If the date of last charge or LAST PAYMENT if longer that the Statute of Limitations send them a letter stating that "The Statute of Limitations has lapsed on this account. It is illegal for you to force me to pay this debt. Please Cease and Disist all collection efforts>"

PLEASE MAKE SURE THAT THE STATUTE IS EXPIRED before you send this letter, or the collection agency will probably sue you for the debt.

Just becasue the SOL has expired doesn't mean you don't owe the bill, it only means that they can't take LEGAL action aginst you for it. The can still attempt to collect it, but if you send the the C&D letter then they can not contact you.

AGAINM AKE SURE TE ACCOUNT IS PAST HE STATUTE OF LIMITATIONS.

Answer 7

Credit/ debt Collectors are irritable...

Attorneys are as bad as collectors (money wise)...

Sometimes talking to a lead supervisor of the collection agency will help clarify your situation, and sometimes they will negotiate the amount owed...

Credit never erases from your record, no matter if you have unpaid acct.'s that have been paid in full recently...

That is bologny...

Though one thing to remember...

Example: Mall shopping credit card-

Your credit report will always display your deliquency payment status..

Either 30 days, 90 days, charge off....

You may have just paid the amount in full after trying to clean up ypur credit... Though your report will show CHARGE OFF...

In other words, the company looks at it as a lose, even though there was a gain in the deal still....

They get credit from state taxes...

What happens in most cases is these BIG Co. (mall shopping credit cards) sell delinquent accounts to other merchants such as CSC at a resonable dollar amount...

Then CSC come in and trys to collect... One thing you must remember, these accounts are sometimes sold to more than one collector at a time...

You then will have 3 bill collectors infering about one bill owed...

And you might want to check your credit report, cause sometimes it is documented more than once which causes your credit points to drop...

GOOD LUCK!

Subchapter D. Prohibited Debt Collection Methods

Answer 8

Before you pay any old debt, read the Statute Of Limitations Law article on old debt below.

Answer 9

i love when debt collectors call me,, i ask them what they are wearing,, how to make an omelet,, pretend i am do some stupid stuff,, anyway after a few times of that they stop calling,, i love when they call, way to much fun lol lol lol