2007-06-27 08:25:59 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
!st off make sure that the SOL is infact expired. the SOL runs from the date of last charge OR last payment. Check here for your states info:
http://www.bankrate.com/brm/news/cc/20040116b2.asp#mt.asp
MAKE SURE that the debt is past the SOL for your state because if it is not and you send them a C&D letter they will sue you.
If it is in fact past the date, then send them a letter stating that the debt is past the SOL and not to contact you again. Also, notify the credit reporting agencies and make sure that it is not showing on your reports.
2007-06-27 09:51:53 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Lots of incorrect advice here...
Just talking to the creditor does NOT reinstate the statute of limitations unless you make some sort of payment, or make a written agreement to pay. Anything else will never survive a court challenge.
Informing the collection agent that you know the debt is past the SOL will not stop some collection agents from continuing to harrass you. That can only be done by a cease and desist letter.
So......all you need to do is send a letter doing both! Tell them that the debt can't be collected....and cease all further communications with you. Send this by certified mail so you have proof they were notified. If they bother you again, pretend you just won the lottery and sue them! You will win $1000 for their FDCA violation.
2007-06-27 16:11:34 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Well, that gets a little tricky. There can be a debt that is 6 years old and about to be taken off your credit report, but if it's sold to a collection agency and you talk to them and tell them you will pay so much per month, you are re negotiating that debt! They will be able to keep that on your credit report for another 7 years! So the question is, in the last 5 years or so did you make any arrangements with them to pay? If so, they have the right to collect, but if not, you can dispute it. Send them a letter and dispute the charge for the reason that it's out dated and too old to collect.
2007-06-27 15:35:05 · answer #3 · answered by amyvnsn 5 · 0⤊ 2⤋
An expired statute of limitations does not prevent attempts at collection of debt. The statute merely states that a legal judgment can no longer be sought in an attempt to collect the debt, but it does NOT erase the debt. You still owe it.
If you ignore them, they can continue to hound you in any legal fashion they choose. Additionally, since the debt is now in the hands of a collection agency, it just came back to life for your credit report, and will remain there until seven years after it is officially settled.
2007-06-27 15:52:52 · answer #4 · answered by acermill 7 · 0⤊ 2⤋
make sure the company trying to collect is legit, there is a growing problem with scammers who contact ppl saying they own something they don't. when you send them a check then they cash it but also have your personal identification. i knew this lady who got a bill from a 'collection' agency that from some phone company she supposedly owed 6 yrs. ago, it was for about 100 bucks, when she called to get all the info and find out what was going on and contacted the phone company they said they had no idea who the company was. it turned out it was an identity theft ring.
2007-06-27 15:35:51 · answer #5 · answered by ?! 6 · 0⤊ 0⤋
You could save yourself a trip to court and a lot of hassle by sending them a letter.
Make sure it's not reporting on your credit reports also.
2007-06-27 15:29:34 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I would ignore them and get a copy of my credit report, if it is on credit report send the expiration letter to them or dispute the charge, it should not show on your credit report, but if it makes you feel better just ignore it.
2007-06-27 15:30:44 · answer #7 · answered by dustystar 4 · 0⤊ 2⤋
Remind me not to lend you any money!
2007-06-27 15:33:32 · answer #8 · answered by jo-jo 5 · 1⤊ 1⤋