Statue of Limitations for collecting debt?

[Evil Queen]

Sounds like a zombie debt. Do watch your credit report, because it could end up there.

I have 2 of these I am disputing on my credit report. ALso, OLD from many many moons ago. The original company claimed them as written off (not sold,etc), but then sold them (ususally this happens for pennies on the dollar) to a different company, who started the entire process all over again. And they are on my report.

I'm disputing it with the credit bureaus and the actual companies. Asking for so much info from them, I'm hoping they will find it's too much trouble and forget it. They will actually probably try to sell it to yet another company.

I too, learned from my mistakes. I hate they weren't handled, but I would only deal with anyone but the original company, but can't now.

Good luck to you.

 

[sleigh]

Sounds like a zombie debt. Do watch your credit report, because it could end up there.

I have 2 of these I am disputing on my credit report. ALso, OLD from many many moons ago. The original company claimed them as written off (not sold,etc), but then sold them (ususally this happens for pennies on the dollar) to a different company, who started the entire process all over again. And they are on my report.

I'm disputing it with the credit bureaus and the actual companies. Asking for so much info from them, I'm hoping they will find it's too much trouble and forget it. They will actually probably try to sell it to yet another company.

I too, learned from my mistakes. I hate they weren't handled, but I would only deal with anyone but the original company, but can't now.

Good luck to you.

There was just an article in the Sun-Sentinel about this. How collection agents are doing that, but it is illegal. They said to call the companies and threaten to sue them, and they will most likely stop.

 

[Pooh nut]

You must follow your own ideas.
However be aware that paying the debt now can effectivly reage the account and have it adversely effect your credit report. It will then be reported for 7 years. And that is reason enough to pursue the court system. That is the punishment for being honest.

 

[toyac]

For the most part, the advice given to you here is correct. Please go to creditboards.com for more help. DO NOT PAY THIS DEBT!!!!!!!!!!!!! If you do, it will effectively hurt your score if they decide to report it.

If you feel you MUST go to an attorney, please make sure it is one well-versed in consumer debt law. Otherwise you will end up worse off than if you ignore it. This is a zombie debt being pursued by a junk debt buyer who purchased the account for pennies on the dollar.

First off, contact the clerk of court listed on the summons. CONFIRM that there is actually a case open (the documents could possibly be fraudulent). Second, if it is a REAL case, file an answer using the SOL defense. Do not contact the collection agency by phone unless you have the right to tape record the conversation in your state (it could get you into even greater trouble). Third, request validation of the account via USPS certified mail. YOu say the debt is yours but are you truly sure? Did they provide you a copy of the original application? Is it for the correct amount?

This is NOT a moral issue. It is a legal one so treat it as such.....nothing more.

 

[mking624]

Honestly, it shocks me how many people are saying to not pay this debt. No offense, but she got herself into this mess by not paying it off in the first place. If it goes on her credit report, that's a consequence of her actions. But to spend all that money and then to advised to not pay it back...that just astounds me. If someone borrowed a lot of money from you all, how would you feel if someone told you "well a lot of people said I didn't have to pay you back...so I won't." I personally wouldn't take that lightly.

No wonder why interest rates spike so high.

Anyway, I'm bowing out. OP, I hope in the end you get this all worked out. As for everything else...all I can say is wow.

 

[blondimom]

Honestly, it shocks me how many people are saying to not pay this debt. No offense, but she got herself into this mess by not paying it off in the first place. If it goes on her credit report, that's a consequence of her actions. But to spend all that money and then to advised to not pay it back...that just astounds me. If someone borrowed a lot of money from you all, how would you feel if someone told you "well a lot of people said I didn't have to pay you back...so I won't." I personally wouldn't take that lightly.

No wonder why interest rates spike so high.

Anyway, I'm bowing out. OP, I hope in the end you get this all worked out. As for everything else...all I can say is wow.

If it goes on her credit report ONCE-that's a consequence. If it goes on by the original creditor AND the collection agency-stays on for seven years and then REAPPEARS YEARS LATER when she settled the debt and stays on for yet another FIVE years {as paid collections do}-well that's just not fair. But, whatever.

 

[Hannathy]

But she hasn't settled the debt! She never paid it so why should she have a clean record when she doesn't deseve it. I have worked very hard to have a clean record and so have millions of others so why should she have the same record as people who DO pay their debts? Talk about unfair.

 

[blondimom]

But she hasn't settled the debt! She never paid it so why should she have a clean record when she doesn't deseve it. I have worked very hard to have a clean record and so have millions of others so why should she have the same record as people who DO pay their debts? Talk about unfair.

So she should pay a collection agency the outstanding debt PLUS whatever interest has accrued in the past eleven years for a debt that she never owed them in the first place? That's like paying a loan shark for a debt owed someone else. They are making a huge profit, at her expense and THAT is unfair. If she could pay the outstanding debt to the original creditor, then I'd be all for that. That's just not the way it works.

 

[Hannathy]

How do you get she doesn't owe it, she even said she owed it. bottom line she got the money and she definately owes someone.

 

[blondimom]

How do you get she doesn't owe it, she even said she owed it. bottom line she got the money and she definately owes someone.

She owed the money to the original creditor NOT the collection agency who is trying to collect. They bought the debt from the original creditor for pennies on the dollar. They then try to collect the full amount of the debt, plus accrued intrest-that is how they make their profit.

 

[Hannathy]

So it would be different if she paid the same amount to the original business? What difference does it make, this happens in all fields ever hear of car repo people? the bank president doesn't go out and take back the car they hire someone to do it. She doesn't deserve a clean credit record it isn't clean it is a deception.

 

[blondimom]

So it would be different if she paid the same amount to the original business? What difference does it make, this happens in all fields ever hear of car repo people? the bank president doesn't go out and take back the car they hire someone to do it. She doesn't deserve a clean credit record it isn't clean it is a deception.

I give up. OP, if you follow the steps I laid out earlier in this thread, the credit agency will have 30 days to validate the debt-30 days in which they must cease collection activity. If, after the 30 days they cannot validate the debt, they cannot legally collect on it further. Also, if you find that in your state the debt in past the statute of limitations, you can send them a certified letter stating such and demanding that they cease collection activity completely. Whatever happens, I wish you well.

 

[MyGoofy26]

See an attorney. DO NOT WAIT to trial to claim SOL, because in most states if you do not file an answer, the plaintiff can file a default, and you may never be notified of a court date. Do not ignore this, the additional fees, including attorney fees can be astronomical compared to the original debt.

You can file the answer without an attorney

 

[MyGoofy26]

Wow is all I can say I can not believe all the people who say it is all right to not pay back debt, No wonder there is so much financial problems in this country. I guess I am old but I was taught and I believe you pay your debt no matter the circumstances. Other people have had hardships, bad marriages but did not use these as excuses to not pay. So keep flaming me I still believe you should pay your debt and did not know about a SOL (which I think is wrong)

Certainly there's a "moral" issue about paying back what you owe. . . but in cases like this where the debt is this old, the money is NOT going to the original creditor and therefore not even paying for the things that were purchased on that card. The OC wrote that money off and took the tax deduction YEARS ago. At this point all it serves to do is line the pockets of low level junk debt buyers who break every FDCPA law they can get away with.

 

[MyGoofy26]

There was just an article in the Sun-Sentinel about this. How collection agents are doing that, but it is illegal. They said to call the companies and threaten to sue them, and they will most likely stop.

It's a growing business. Read this forum, some of these people can really disgust you.

http://www.collectionindustry.com/forum/index.cfm?NoCookies=Yes

Unfortunately MOST people aren't aware of the Fair Debt Collection Practices Act, and don't know their rights. These collectors know that and will continue to violate since even paying fines to the few that hold them accountable, they can still come out with a profit from people who allow them to harrass them. Most people feel so guilty about their debt that they don't think they deserve to be treated with respect (and within the law) so they tuck their tail between their legs and pay whatever the collector is asking, never asking for validation of the debt, proof that THAT collector actually owns the debt, that the collector is licensed to collect, etc.

 

[picantel]

I pmed you. There is some horrible misinformation here and guessing to the laws is not going to help the OP. If you need help just respond.

 

[HappyLawyer]

i am sorry this happened to you but it happens to many of us, we were young and uneducated on credit, wow a credit card and had no idea what we were getting into, now we are older some more responsible and know how to handle the situations.. i am a firm on the issue that our youth need to be taught the value of credit and understand a credit card.

 

[HappyLawyer]

if you need a legal perspective just pm me and i will answer what i can for you.

 

[Evil Queen]

There was just an article in the Sun-Sentinel about this. How collection agents are doing that, but it is illegal. They said to call the companies and threaten to sue them, and they will most likely stop.

I read that too. I've been disputing my two credit issues for a few weeks now.

The other issues on my report, hospital bills, actually slipped my mind. I'm working on getting those paid.

 

[Evil Queen]

I give up. OP, if you follow the steps I laid out earlier in this thread, the credit agency will have 30 days to validate the debt-30 days in which they must cease collection activity. If, after the 30 days they cannot validate the debt, they cannot legally collect on it further. Also, if you find that in your state the debt in past the statute of limitations, you can send them a certified letter stating such and demanding that they cease collection activity completely. Whatever happens, I wish you well.

She also should validate it is hers, it can possibly be someone elses. That happens all the time, happened to my oldest son.

And even if the agency that has it, gives up on it and claims it settled, can still sell it to yet another agency.

Keep all records, letters, etc, in case it comes back another 11 years down the road.