A charge-off got taken off of my Experian report, now debt collector sends notice that I owe, what can I do?

Question

Ok, I got my credit report on 07-19-07, and there was a charge-off on the Experian credit report that was over seven years expired (From 1999). I saw that there was an inquiry from a debt collection agency on 07-21-07. Then I got a notice from the debt collector that made the inquiry (Dated 07-22-07) saying that I owed on that charge-off and to respond within 30 days or we will assume that the debt is valid and that I owe on it. Finally, on 08-03-07, I checked my credit report again, this time I saw all 3 companies report and the charge-off was NOT on the Experian report anymore but it was on the other 2 reports and it also shows that the debt collector used only Experian to inquire about the debt. My questions are: Does this debt collector have the right to collect on this debt since it got removed from the experian report? How should I respond to the debt collectors notice? How can I have the same record removed from the other 2 reporting agencies?

Thanks,
worried,
Repair Guy

Answer 1

This doesn't seem right. It is way past the statue of limitations. Worst case scenario, the collection agency may file a judgement against you. Go to that court date and provide your proof and ask the collection agency to provide the LAST DATE OF PAYMENT on the account. Since it has been past the statue of limitations, they will have no valid case.

Answer 2

Reporting a debt to the credit bureaus and collecting on the debt are two very separate things.
Bill collectors can attempt to try to collect on a debt indefinitely banking on your ignorance of the law. However, there is something called the Statute of Limitation (SOL). It can be as little as 3 years in some states and as long as 15 in others depending on the type of debt. You do not have a legal obligation to pay after the SOL has run out. Credit card debts are always open accounts. For your State's SOL, check the link below,
http://www.cardreport.com/laws/statute-of-limitations.html
Send the collection agency a "Debt Verification Letter" within the 30 days. Make them establish a link between you and the original creditor and a link between themselves and the original creditor to verify that they have a legal right to collect from you. Also the debt is outside of the SOL, inform them that you are aware of that.
At the same time dispute the entries with Equifax and Transunion.
A derogatory trade line should come off your credit reports after 7 years. It does not matter who owns the debt at the present time and how many times it has been sold. By law, any entries referring to this debt should be removed.

Answer 3

Just because the debt is old enough to have fallen off your credit report, does not mean you don't still owe the money. The collector can continue trying to collect till you die.

You can send the collection agency a drop dead letter (basically saying don't contact me anymore). But the collector will either file suit or just sell the debt to another agency. And you'll have to sent them a letter.

If you do get a summons for court, be sure to show up. Depending on the Statue of Limitations in your state, you can offer that as an affirmative defense to the debt. But if you don't show, they will get a default judgment and will then be able to attach your assets.

Answer 4

No, the statue of limitations has expired. What you are dealing with is called a scavenger agency. One that picks up all accounts for virtually pennies on the dollar or less, and begin to harass you. They recover about fourteen percent of the time so they make money. Write them back and do it certified, advising them that this debt has been satisfied and that they are to remove it from your report and that they are in violation of the Fair Credit Reporting Act. Also, send a copy of the letter to Experian and another letter to them requesting that they also comply with the same Act, and statue of limitations and remove it from your report. This scavenger collection company will back off and if not, contact your family attorney and have him/her write a quick letter to them about the statue of limitations, and they will go away.

Answer 5

At this point you will gain nothing by paying this debt. Once it has gone to collection all the damage is done. You can write to the other agencies and tell them that it has been longer than 7 years and you would like it removed. They may or may not cooperate.

Answer 6

Well fix it of course.
Pray to your lord for strength that is first that gives him the ability to intervene.
If you do owe, pay it, its the reason why we have such crazy inflation today.

If you didn't get fair chance call a anti-creditor company
you have rights
you don't even have to answer 1 question
they are just really good at their job
and they know how to make you scared

fear nothing but Allah
and you will be the winner if your heart is true. If not then he will always make you eat your own blackness.

Answer 7

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This program will not guarantee you will be making money within 10 min or half hour but it definitely will make money in the long run. We are talking business here and not some GET-RICH-QUICK program. For me, I get my first sale of $33.90 just straight after one day.

Answer 8

Debt collectors can continue attempting to collect a debt until you die unless you have declared bankruptcy. If you owe someone money, there's no law that says they can't try to collect what you owe them no matter how long it takes.

Answer 9

hate to say this but you should be worried -- i think they should add a pay credit card debt to the old saying "there is only two (change to three) things in life for sure death taxes pay credit card debt" good luck