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I have a collection agency contacting me regarding an old account with a date of delinquency of 04-06-98. Now this is past the credit reporting limit and the statue of limitations, right? I'm assuming they can't do anything since 11 years has passed, but they can continue to try to collect the debt? It has never been reported on my credit report, so why are they coming at me now? Can anyone help me? Thank you.
12 Year Old Collection Account
This is in California.
Hi JK
In California the SOL on written agreements is 4 years. Since this debt is past the SOL you legally are not bound to make any payments. However, if you do then the SOL will be renewed. The fact is you still owe the money so, whether you want to pay it or not depends on you.