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They called about a month ago, and they had his old address. We've been together and I've handled all his bills for 6 years. Can they come back and try and collect when he hasn't been contacted in all this time. If it is from 1997, can they now put it on his credit report? If we do pay it, will it show up as a new item on the report?
First of all DON'T PAY delaware OFFER PAYMENT!!!!!! untill you check it out firsrt. Acknowledgement of the debt can restart the states SOL on collections but not on credit reports. If this debt is from 1977 then it is obvious this is a junk debt collection agency. Check to see if they are listed t at this site debt is no doubt beyond your states statute of limitations to take legal action. (excluding state taxes, student loans, child support and IRS taxes) Check your states SOL at this site if the debt is indeed beyond your states SOL then send them a letter (send it certified/return receipt)requesting "Validation of the debt".. I have included a sample to use, you fill in the blanks. If this debt is beyond the SOL for reporting to the credit reporting agecies (as some have mentioned here) then they can not place it on your credit report. If they redated the debt, then they violated the following: RE-DATING OF THE DEBT delaware VIOLATION OF [CITE: 15USC1681s-2] § 623. Responsibilities of furnishers of information to consumer reporting agencies DATE From:(NAME) (ADDRESS) (CITY, STATE, ZIP) To:(NAME OF AGENCY) (ADDRESS) (CITY, STATE, ZIP) Subj: Verification of Debt, request for Ref: (INSERT ACCOUNT NUMBER SHOWN ON COLLECTION NOTICE) To whom it may concern: This letter is to inform you that pursuant to Title VIII, Debt Collection Practices, § 809 of the Federal Trade Commission and 15 U.S.C. § 1692g, I am hereby registering a formal request for Verification of Debt. The account in question listed as an installment account with (NAME OF ORIGINAL CREDITOR) opened (insert date) and indicates an initial balance of (enter amount) It is now currently being shown as collection account with past due amount of (enter amount) as of (insert date). Unless legal proof and verification can be shown, I request you remove the derogatory entry with any credit reporting agencies that may list this debt (and any other agencies you have filed with) immediately to avoid any possible legal recourse on my behalf pursuant to 15 U.S.C.§ 1692k. Respectfully (NAME) Hope this answers your question. LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.
FCRA, Legally the debt can only be reported seven years from the original delinquency date - regardless if it was sold off to a collection company and regardless of when they got it. They can maybe report it for another year. You would need to find out when that debt first went 30 days late with the original creditor and go from there. There are alot of unscrupulous collection companies that will buy old debt for pennies on the dollar and attempt to scare people into repaying it. I'm not saying DONT pay it off, just be aware of the legal limitation on reporting it. Also your state may have a statute of limitations on how long a debt is legally collectable. They may have no grounds at all to attempt to collect it - it varies state to state. If they do report it, and you pay it. Negotiate them to remove it from the report upon payment. But get EVERYthing in writing. Usually once a collection company has you're money - they're done with you. Good Luck! *** Edit, Yes it's safe to assume it is a Collection Company. Chances are if you call them, they will not be able to even tell you the original delinquency date, best bet - get a copy of his credit report - it should show you the original account and give a month/year when it first went 30 days delinquent. Thats the magic date for you as far as how long its going to be reported. Collection companies, will buy bad debt for next to nothing and make an attempt to collect it. It happens all the time. And consumers who aren't aware alot of times being in a better financial situation are scared and just pay it for fear of it affecting their credit now. Don't let them scare you, you can also find alot of information on the FTC (Federal Trade Comission) website. It's the FCRA (Federal Credit Reporting Act) that sets out the laws - thats what you want to look up.
Well, the answer will depend on the appropriate statute of limitations in the applicable state (which is probably where the debt was owed). My guess - and that's all it is since laws vary between states - is that the statute of limitations has probably passed (which is good for you) if all this is is an unpaid debt that was never reduced to a judgment. But, if the creditor actually sued your husband years ago and they actually got a judgment against him, then that could be bad for your husband. The statutes of limitation on collecting judgments issued by a court are, in many states, really long (20 years or more).
Negative items can only be reported on your credit file for 7-1/2 years from the date of first deficiency. Nothing can re-start this clock. If this shows up on your husbands credit file, dispute it as beyond the reporting period. The second thing is the Statute of Limitations (SOL), the timeframe to bring lawsuit. This differs from state to state. Check your state: Chances are the debt is also beyond the SOL. Even if the debt is beyond the reporting period and the SOL, that doesn't mean collection agencies can't continue to try and collect. They can hound you to the grave. This is probably a zombie collection agency. Send them a certified, return receipt letter telling them to cease and desist all contact. They will stop and probably sell the debt off to another zombie collection agency. You might have to send out a cease and desist letter to a second or third company. If you do opt to pay them off, offer 10% or maybe less as settlement. Get a written agreement and keep it, along with your payment proof, forever. Don't give the collection agency direct access to your bank account.
DO NOT PAY THEM! Send them a letter and tell them that the statute of limitations has run out and that they do not have the right to claim this money. Then call the FTC and file a complaint. This happened to me last year. After i sent them the letter they sent me a reply indicating they are not pursuing it and it will be dropped/removed whatever. They can't put it on your credit but you should got to the free credit report website and make sure. I feel your pain because i remember what it was like.. Good luck and make sure you follow what i said. ANd do not attempt to to make paymnet arrangements cause it will start it all over again. The person at the FTC will tell you what you should do. make sure you send your letter certified mail to the debt collector.
Run your credit report (for free here: it's not there, don't worry about it. There are a lot of scam artists out there, collecting on supposed debts. I recommend putting their phone number into this site to see if they are a scam:
Do an on-line search for your state's law on debt collection. There are statutes of limitations, but they differ from state to state.
It's probably already on his credit report. The best thing you can do, no matter what happens, is SHOW UP TO YOUR COURT DATE if you are issued one. Most of the time, companies won't send their representatives, because it costs too much for them to hire laywers for a lesser amount of debt. If you show up, and they don't, you win!
If I remember correctly , You don't have to pay that debt , don't you send NO check to them ...do nothing or else you will be liable for it ..........I am guessing on this ....... You might want to ask a professional Agree with other person above .