Hi everyone. Several years ago, I defaulted on a credit card. I can't remember how long ago it was, but I haven't had use of a credit card in about 6 years. Looking at my credit report, the debt is scheduled to be removed from my record in April 2012, which somewhat confirms my guesstimation (bad debts removed from record in 7 years?).
Anyway, at some point the debt was transferred to a collection agency called Unifund (in 2007 possibly), who then transferred it to Remit Corporation (in 2010). In 2010 they filed for and won a judgement against me. At the time I didn't think much of it *believing* there was a 4 year limitation on whatever action they could take. Yesterday when I logged in to my online banking, all of my accounts were frozen. Today I received a Writ of Execution and Request for Exemption in the mail.
I am wrong about the 4 year statute of limitations? Does that period reset when a debt is transferred? I mean, the debt with Remit is only by proxy based on events in 2005. Shouldn't the cut off date for such action have been in 2009?
Thanks for your insight!
Did you make any payment towards this debt in between? A payment towards an old debt may reset the SOL clock. CAs trying collecting their debt even when it's past the SOL. They don't really care about what's right and what's wrong.
I haven't had any contact with either the original debtor or both collection agencies since defaulting in 2005. I forgot to mention previously that I'm located in Pennsylvania.
Do I have any options to stop enforcement of the judgement due to statute of limitations, or did I basically screw myself by not responding earlier? Is it too late to file for bankruptcy (however lame it might be filing for bankruptcy due to one single 6 year old creditor)?