dealing with a collection agency with a debt 8 years ago?

Question

went through a bad divorce 8 years ago and let me broke and could not pay my cc debt, there is one card i had a balance of 6k. Never heard from them until a month ago, There is a SOL in my state on this for 6 years, I told these people this. The are telling me i owe 14k on this and if i dont come up with an agreement in 30 days they will have me arrested for felony theft. This debt is not even on my credit report. I am worried that i will get arrested. the agency is this company called Franklin credit solutions

Answer 1

Relax..sounds like you are dealing with a junk debt buyer. JDBs are investors who buy mostly worthless portfolios of charged off debt, usually beyond the Statute Of Limitations. They are easy to get rid of, especially if they know that you are aware of your rights.

Immediately send a letter, Certified Mail, Return Receipt Requested demanding validation. They may send you their printout..this is NOT validation. Demand that they send some tangible proof, such a signed contract, etc. Just be aware that you should NEVER sign your name..type it only. These vultures have been known to manufacture bogus documents.

Here is a sample of what you should send:

Your address

Junk Debt Buyer (via USPS Certified Mail, Return Receipt Requested)
Their Address
Their City, State.

Re: Your Reference #

This is in response to your telephone call of xx-xx-xxxx regarding the above-referenced account. This is not a refusal to pay, but request for validation of this alleged debt.

Therefore we are requesting you provide us with documentation to substantiate the validity of the account in question. In accordance with Section 809 of the FDCPA you are to provide the following information;

1. The name and address of the Original Creditor
2. The original account number and balance indicated;
3. The date the Original Credit account became delinquent and the date of last activity for this account;
4. Proof that the Statute of Limitations has not expired on this alleged debt.
5. Copies of any documents showing that I agreed to pay what you say I owe, including my signature on any contracts, sales slips, etc.
6. If assigned by Original Creditor, document that this is assigned; if purchased, or collecting on behalf of a debt buyer, attach documentation of the amount paid for this alleged debt;
7. Your Agent for Service of Process.

Since it is highly doubtful you can provide all of the above information within 30 days, I am requesting you immediately cease collection efforts and delete this account from your records. I also strongly advise against reporting delinquencies concerning same to any Credit Reporting Agency as doing so would be a violation of FCRA e 1681s-2 concerning 'disputed debt'. Should any agencies have received notification of delinquency concerning this, be assured I will initiate litigation proceedings immediately. We have copied the three (3) major Credit Reporting Agencies with this letter and have sent copies with our formal complaint to Mr. William Haynes, Division of Finance Practices, FTC.

We trust this writing shall provide closure to this issue as we do not deal with Collection Agencies or Debt Buyers. Any continued collection attempts by your organization will not be tolerated and will result in legal action. Additionally, any attempts to “re-age” this alleged debt will be met with every legal option available, up to, and including suit. “Placed on our floor” is NOT the Date of Last Activity.

We also request that all communications regarding this alleged debt be conducted via USPS, and no telephonic contact is to be made to my home, place of employment, cellular number, or to third parties, as this would not be "locator information" and therefore, a violation of the FDCPA.

Your cooperation anticipated and expected.

Very truly yours,

Your name (typed only)


Also, if your state allows it and the calls continue...TAPE THE CALL. Threatening you with arrest is a clear violation of the FDCPA and if you sue them, it is $1000.00 per violation. Please go to the FTC site and read the FDCPA (Fair Debt Collection Practices Act) and the FCRA (Fair Credit Reporting Act). You have rights.

Whatever you do, DO NOT pay even one dime or make an offer to settle this legally uncollectable junk debt. It will hurt your credit tremendously by re-affirming the debt, which will start the Statute of Limitations all over again, as well as the 7-year credit reporting clock.

Acermill did give you erroneous information. Even if a JDB purchases a junk debt, the Statute of Limitations DOES NOT start over...it is based (or supposed to be if they are following the law) on the Date of Last Activity, which is the date the ORIGINAL CREDITOR, not the "purchaser/JDB" purchased the debt (which was purchased for probably 1 cent on the dollar), so if they re-age it to reflect the date they purchased it, take them to court and get paid.

Answer 2

Your debt was obviously sold to Franklin by the credit card company involved. The fact that you did not pay it did not make the debt disappear. The credit card company just stopped its efforts.

They can't have you arrested for 'felony theft'. That's absurd. However, they WILL newly report their purchase of your debt to all three credit reporting bureaus, and THAT will haunt you for the next seven years or more.

The SOL merely means that they cannot pursue legal action (judgment) against you to collect the debt. But they CAN and WILL hound you without mercy until you find a way to handle what you owe. There is no SOL on this type of attempt to collect what you owe.

Answer 3

This is ABSOLUTELY FALSE-you cannot be arrested, there is no debtor's prison in the United States, period, end of discussion. This debt is well beyond the statute of limitations to collect on, and their continued attempts are a clear violation of the Fair Debt Collection Practice Act.

Go to www.creditinfocenter. com to determine your legal options, but you should document the conversations you have had with them in the past, and DO NOT SPEAK WITH THEM AGAIN. Send them a letter that mail is the only way you will accept communication from them. You can sue them in civil court, and YOU WILL WIN.

Answer 4

do not pay, do not even promise to pay!! the statute of limitations runs out from 4 to 6 years, depending on the state you live in. you no longer legally owe that money!!! however, if they can get a promise to pay or a payment out of you now, the statute starts all over again. that's probably why they are calling now. just tell them that the statute has run out, and if they harass you again you will sue. good luck! trust me, you can't be arrested, the agency is breaking the law here!

Answer 5

Laugh at them. They can't do anything legally to you.

Illegal things they could do:

1. They could file a lawsuit on this time-bared debt, and hope you don't show up to tell the judge the SOL has expired...There-by winning by default.

2. Re-age the debt on your credit report.

If they do either of these things, consult an attorney and sue them.

Answer 6

Ha, Ha, Ha. These scare tactics are commonly used by junk debt buyers before the Statute of Limitation is about to expire. It is also illegal to threaten with jail or imprisonment. A debt is a civil matter and carries no criminal penalty. Record all phone calls and all threats you receive from them. If they decide to sue, you can counter-sue for $1,000 for each violation.
Good Luck

Answer 7

Check with an attorney on the statute of limitations and make SURE it doesn't apply to you. He will then write a letter to the collection company stating that you are no longer liable for this debt. That should pretty much take care of it.

Answer 8

I will only say two things.

First acermill must work for a collection company. His information is wrong.

Second sherri C know her stuff. Do not listen to anyone except her. And me of course.

Answer 9

ha ha ha - there is not a debtors prison in the USA - mail them a letter telling them to cease and desist all written and verbal communications with you.