10 years ago I let a debt go on my credit. It has since fallen off. Last night I received a call asking for money on this debt. Can it legally go back on my credit a second time??
Should be past the statute of limitations, but that does not mean that they will not try to collect it.
Can you list the type of debt, where you resided when you established it so that someone can look up the statute of limitations for you?
If it is past that SOL then you do not have to pay it. Don't pay a dime until you find this information out, if you do it will start the clock all over again.
A lot of collectors will try this. You can dispute it with the credit reporting agencies and list of past the statute of limitations as your reason for dispute. You can also send the collection agency a Statute of Limitations expiry letter. This is a letter that tells them that the debt they are attempting to collect is past the time limit on collecting it. Now this all depends on whether you made any recent payments or what your state is. Please let us know so we can give you advice.
If the debt has been charged off, and the charge-off has fallen off your credit report after 7 years and if the statute of limitations (SOL) has expired too, that does not necessarily mean that the collections may stop. If you still owe the debt, the debt can come back on your report. It may have been handed over to another collection agency. thus, it is being reflected on your report again.
However, if the SOL has expired, you can send a statute of limitations expiry letter and dispute the item off your report.
Hi, I'm in the same boat. 10 years ago I had a repo which should have just been an early lease termination fee as I had put 8000 down on a car with a 3 year lease. My payments were perfect for almost 3 years and as luck would have it I missed the last 4 months of my lease. Payoff was 24000 and they got at least that for it. It went on my credit for 8 years, I suffered the consequence of my bad credit and hardship. I am now re established and am getting collection letters from a different collector and harrassing phone calls at my work but they are recordings not people, and when I wait for a real person they will never tell me why they are calling, then ask me to hold while they transfer me. I waited for up to 5 minutes one time and just hung up. I'm a single mom with 3. It took me 10 years to get even somewhat of my life back after the devastation and divorce, then the economy hit. I have a few credit cards in good standing, supporting 3 kids on my own (barely making ends meet)they aren't going after my ex, he never re established. I have worked so hard to get re established and have so little to show for it except happy kids and good credit but I don't own anything. I suffered the charge off consequences. For God sake... could someone please shed some light? I have another question too, but I'll post later. Thanks for any advice. M-
Mich you need to join Credit Magic so you will get notice of responses
So if this is 8 years old and off your credit, then hope full it is well past SOL
so what state do you live in?
If you tell them to stop calling then they must stop. If this is past SOL you can send a C&D and threaten to sue. IF not past SOL you can still send them written notice by CMRRR that it is inconvenient and an invasion of privacy. and sue them for that
Should be past the statute of limitations, but that does not mean that they will not try to collect it.
Can you list the type of debt, where you resided when you established it so that someone can look up the statute of limitations for you?
If it is past that SOL then you do not have to pay it. Don't pay a dime until you find this information out, if you do it will start the clock all over again.
A lot of collectors will try this. You can dispute it with the credit reporting agencies and list of past the statute of limitations as your reason for dispute. You can also send the collection agency a Statute of Limitations expiry letter. This is a letter that tells them that the debt they are attempting to collect is past the time limit on collecting it. Now this all depends on whether you made any recent payments or what your state is. Please let us know so we can give you advice.
bad debt resurfacing
Hi Jenatini,
If the debt has been charged off, and the charge-off has fallen off your credit report after 7 years and if the statute of limitations (SOL) has expired too, that does not necessarily mean that the collections may stop. If you still owe the debt, the debt can come back on your report. It may have been handed over to another collection agency. thus, it is being reflected on your report again.
However, if the SOL has expired, you can send a statute of limitations expiry letter and dispute the item off your report.
Hope this helps.
Regards,
Aaron.
2 questions about bills
Hi, I'm in the same boat. 10 years ago I had a repo which should have just been an early lease termination fee as I had put 8000 down on a car with a 3 year lease. My payments were perfect for almost 3 years and as luck would have it I missed the last 4 months of my lease. Payoff was 24000 and they got at least that for it. It went on my credit for 8 years, I suffered the consequence of my bad credit and hardship. I am now re established and am getting collection letters from a different collector and harrassing phone calls at my work but they are recordings not people, and when I wait for a real person they will never tell me why they are calling, then ask me to hold while they transfer me. I waited for up to 5 minutes one time and just hung up. I'm a single mom with 3. It took me 10 years to get even somewhat of my life back after the devastation and divorce, then the economy hit. I have a few credit cards in good standing, supporting 3 kids on my own (barely making ends meet)they aren't going after my ex, he never re established. I have worked so hard to get re established and have so little to show for it except happy kids and good credit but I don't own anything. I suffered the charge off consequences. For God sake... could someone please shed some light? I have another question too, but I'll post later. Thanks for any advice. M-
Mich you need to join Credit Magic so you will get notice of responses
So if this is 8 years old and off your credit, then hope full it is well past SOL
so what state do you live in?
If you tell them to stop calling then they must stop. If this is past SOL you can send a C&D and threaten to sue. IF not past SOL you can still send them written notice by CMRRR that it is inconvenient and an invasion of privacy. and sue them for that