My wife just received a collection letter from an agency that bought an old (alleged) debt she owed to Verizon from 1995. Doesn't New York State law preclude collection of debts of this sort that are more than six years old?
2007-08-17 03:48:39 · 4 answers · asked by Phil R 1 in Business & Finance ➔ Personal Finance
No they cannot after 7 years.... UNLESS-------------
At any time during a collection call she says " I'll pay it back".
If she has said that... the 7 years starts ALL OVER AGAIN from the day she says " I'll pay you".
NEVR NEVER NEVER tell a bill collector you'll pay... make them prove the debt in writing which they must do under TCPA. Otherwise tell them to go take a hike...
2007-08-21 12:23:49 · answer #1 · answered by I Can Count To Potato 7 · 1⤊ 0⤋
Collection agency can follow you to the grave. If they take you to court, you might be able to claim the debt is beyond the statue of limitations (SOL) as an affirmative defense (I'm not sure what the SOL is for New York).
They should not be able to re-age this 1995 debt on your credit report. You can dispute that as being more than 7 years old.
You should demand the collection agency provide detailed proof that this debt belongs to your wife (send a letter, certified mail, return receipt).
There are some bottom feeder collection companies that put antique Verizon debt on people's credit reports. Folks find out about it when they try to buy a house and often just pay the less than $200 as being the easiest way to clear the negative so they can get the new mortgage.
2007-08-17 04:27:35 · answer #2 · answered by bdancer222 7 · 1⤊ 0⤋
Debts are sold many times over for pennies on the dollar...you will be called for many years to come. The key is to not answer the phone and if you do say its not you. After 7 years the debt is gone unless you agree to pay one payment your opening the account all over again. If you want to pay it off, offer pennies on the dollar in writing send by registered mail. Say you have a $3000 debt,,,after 5 or 6 years offer .10 on the dollar that's 300 to kill the debt, then later you take that receipt to the credit card agency's to get your credit back.
2007-08-24 10:03:02 · answer #3 · answered by Jovesash 4 · 0⤊ 0⤋
yes -- just pay it and forget it!!!
2007-08-17 03:54:07 · answer #4 · answered by mister ed 7 · 1⤊ 0⤋