Charge off 13 years.

Submitted by waynetango on Tue, 03/02/2010 - 18:32
Forums
Credit repair

I just got a letter from Portfolio Recovery Associates. I live in california. I called them and asked them who was the creditor, because i thought it was American express. They advised me it was NOVUS. I explained that i had no idea who NOVUS was. he continued to verify my name, address and last four of my social. I said that was me but i don't know this debt. He said it was for a discover card that was charged off in 1997. I was like i don't even remember having a discover card. He said his company bought this debt in 2005. I asked you are are trying to collect something that is 13 years old that i don't remember and you are contacting me five years later after you purchased it. I asked was there some kind of time limit he said yes for the credit bureau but not for the debt. All i said after was let me contact my lawyer, even though i don't have one. I don't know what to do? If i had a discover card i just can't remember 13 years ago.

fireyone

Wayne, This debt is far past the statute of limitations and they know this. They can not legally sue you and win in court due to the SOL defense. They can continue to try to collect but then you can always send them an SOL expiry letter and a cease and desist. What I would not do is pay it. You are protected by the SOL law and they can not even report a debt this old to the bureaus . If they do a simple dispute would get it removed. My advice is to send out those letters by registered mail, return receipt requested. You can find sample letters here on the site under letters of credit to the side of your screen.

Wed, 03/03/2010 - 02:28 Permalink
goodnatured

Great advice fireyone, I think that you are right about them trying to collect an uncollectable debt.

One thing that I would like to add is that if you make any payment, no matter what the amount is you will restart the statute of limitations, if you are sure it is 13 years old then sending the cistand desist should put an end to it for you.

goodluck and keep us updated.

Wed, 03/03/2010 - 03:56 Permalink
Aaron

Hi Wayne,

The statute of limitations (SOL) in California is 4 years for written contract, promissory note and open ended account, and 2 years for oral contract. So, the SOL on your debt has expired, and the creditor or collection agency won't be able to sue you for the debt. However, the collection process may not stop.

What you can do is send the collection agency a certified "expiration of SOL" letter, mentioning that you are aware of your rights as a consumer. Check out a sample expired SOL notification letter, so that you will know how to format it.

Hope this helps.

Regards,

Aaron

Wed, 03/03/2010 - 05:52 Permalink
waynetango

Thanks so much for your input. I will do that. I would never have even called them if i didn't think it was another creditor that i was dealing with. I will keep everyone updated.

Thu, 03/04/2010 - 02:00 Permalink
cinnamngrl

Just remember that SOL is an affirmative defense. that means if they sue (unlikely), you need to show up for court and assert that the debt is past SOL. The point of SOL is that it is impossible to defend yourself from old debt. They can't expect you to keep or get records that could dispute this.

I don't know what an SOL letter is but by law FDCPA they must stop contacting you if you send a Cease and Desist letter. or a more fun FOAD

Thu, 03/04/2010 - 11:47 Permalink
matzcrorkz (not verified)

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Tue, 08/05/2014 - 06:58 Permalink