topic Re: SOL for Colorado CC debt? in Credit Cards

SOL for Colorado CC debt?

sindi — Fri, 20 Jul 2007 18:30:29 GMT

Just wondering--what is the SOL for Colorado CC debt?

For the last year or so, I've been called almost daily by NCO. Occasionally get mail--the OC was Sears. It is not my debt, and has never been--NCO is the 3rd CA to try to collect. I have years of correspondence on this thing.

I finally started paying attention to my credit about a year ago--pulled my credit reports, no negative TLs, my scores are high.

If I can only ask for validation within the first 30 days contact, then it is too late for that. Would a CD letter stop the calls? They are only a minor annoyance--I never answer the phone. . .

TIA

sindi

Re: SOL for Colorado CC debt?

fused — Fri, 20 Jul 2007 18:41:35 GMT

sindi wrote:
Just wondering--what is the SOL for Colorado CC debt?
For the last year or so, I've been called almost daily by NCO. Occasionally get mail--the OC was Sears. It is not my debt, and has never been--NCO is the 3rd CA to try to collect. I have years of correspondence on this thing.
I finally started paying attention to my credit about a year ago--pulled my credit reports, no negative TLs, my scores are high.
If I can only ask for validation within the first 30 days contact, then it is too late for that. Would a CD letter stop the calls? They are only a minor annoyance--I never answer the phone. . .
TIA
sindi

SOL for Colorado is 3 years for open-ended accounts, this includes CCs. Since your scores are high does this mean NCO is not reporting the account? When was the DOFD (date of first default), this is when the account is 120 days late?

Re: SOL for Colorado CC debt?

sindi — Fri, 20 Jul 2007 19:29:19 GMT

NCO pulled my TU report on 9/13/05 as shown on my 7/19/06 TU report. I purchased a myFICO TU in April 2007, no mention of NCO anywhere. TU Score was 843.

EX (Oct 2006)and EQ (Mar 2007) annual freebie reports don't show any NCO inquiries, let alone them reporting anything.

Before NCO was RMA (Risk Management Alternatives--apparently bought by NCO).

I have RMA letters back to Aug 2002.

Before RMA was a letter from Collectech Systems, Feb 7, 2000.

All correspondence carries the same Sears account (card?) #.

Don't know DOFD or any account details other than #--it wasn't my account.

I don't see where NCO has done anything CRA-wise other than pull a TU report before they started trying to contact me in Oct 2005.

Thanks for the quick answer.

Three years, eh?

Growl. Might have to change my icon to something with teeth. . .

Re: SOL for Colorado CC debt?

fused — Fri, 20 Jul 2007 19:39:51 GMT

sindi wrote:
NCO pulled my TU report on 9/13/05 as shown on my 7/19/06 TU report. I purchased a myFICO TU in April 2007, no mention of NCO anywhere. TU Score was 843.
EX (Oct 2006)and EQ (Mar 2007) annual freebie reports don't show any NCO inquiries, let alone them reporting anything.
Before NCO was RMA (Risk Management Alternatives--apparently bought by NCO).
I have RMA letters back to Aug 2002.
Before RMA was a letter from Collectech Systems, Feb 7, 2000.
All correspondence carries the same Sears account (card?) #.
Don't know DOFD or any account details other than #--it wasn't my account.
I don't see where NCO has done anything CRA-wise other than pull a TU report before they started trying to contact me in Oct 2005.
Thanks for the quick answer.
Three years, eh?
Growl. Might have to change my icon to something with teeth. . .

You can dispute the inq with TU but I wouldn't. Your score of 843 is the highest I have ever seen! Wow! This a FICO TU score right?

Re: SOL for Colorado CC debt?

sindi — Fri, 20 Jul 2007 20:03:55 GMT

Bought it right here at myFico, end of April. I was really surprised.

It's probably down some now, as I used my one and only CC for a purchase. It's now PIF, but wouldn't be reported yet.

Where does one find the SOL info?

The NCO calls are all machine messages--just an annoyance, really. But they do accumulate on the answering machine.

Thanks again.

Re: SOL for Colorado CC debt?

fused — Fri, 20 Jul 2007 20:23:38 GMT

sindi wrote:
Bought it right here at myFico, end of April. I was really surprised.
It's probably down some now, as I used my one and only CC for a purchase. It's now PIF, but wouldn't be reported yet.
Where does one find the SOL info?
The NCO calls are all machine messages--just an annoyance, really. But they do accumulate on the answering machine.
Thanks again.

Which state do you live in?

Re: SOL for Colorado CC debt?

sindi — Fri, 20 Jul 2007 20:39:36 GMT

Colorado. I'm sure it's in the state statutes somewhere. A shortcut would be nice.

Thanks.

Re: SOL for Colorado CC debt?

fused — Fri, 20 Jul 2007 20:46:42 GMT

sindi wrote:
Colorado. I'm sure it's in the state statutes somewhere. A shortcut would be nice.
Thanks.

Sorry, I asked the same question twice! Too much posting today.:smileytongue: I find the link and post it for you.

Re: SOL for Colorado CC debt?

fused — Fri, 20 Jul 2007 20:53:20 GMT

http://www.fair-debt-collection.com/statue-limitations.html

Re: SOL for Colorado CC debt?

Noah_Bodie — Fri, 20 Jul 2007 23:36:55 GMT

sindi wrote:
Just wondering--what is the SOL for Colorado CC debt?
For the last year or so, I've been called almost daily by NCO.
...
NCO pulled my TU report on 9/13/05
...
I purchased a myFICO TU in April 2007, no mention of NCO anywhere.

Bankrate conflicted saying 6 years, so I checked elsewhere. It's a 3 year SOL.

§13-80-101

http://198.187.128.12/colorado/lpext.dll/Infobase4/1ef93/225b0/225b2?f=templates&fn=document-frame.htm&2.0

Because NCO pulled your credit in 2005, it's over 12 months old so it ain't hurting your score any even if it was a hard INQ. However, these dips might continue to try and harass you.

Since they have no PP for the INQ, I would demand a $1000 from them with a PMS letter. [Pay Me Sucker].

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3900

You can still sue them for this violation if you file before 9/13/07

Even though you are beyond 30 days, I would also still send them a DV letter. See the link to DV in my sig. A C&D will also work, but sometimes a desperate CA will lie to the CRA and claim the debt is from 2 years ago and stick it on your CRs. If you DV them, and then they try such a shenanigan, you have more leverage. C&D is good (when one knows a debt ain't theirs and they are out from under the SOL), but IMHO a DV is better. I think it leaves you more legal options.

Message Edited by Noah_Bodie on 07-20-2007 04:36 PM

Re: SOL for Colorado CC debt?

fused — Sat, 21 Jul 2007 00:11:38 GMT

________________________________________________________________________________

Noah Wrote:

"Since they have no PP for the INQ, I would demand a $1000 from them with a PMS letter. [Pay Me Sucker]."

_________________________________________________________________________________

Can you post a sample PMS letter?:smileytongue:

Re: SOL for Colorado CC debt?

Noah_Bodie — Sat, 21 Jul 2007 00:13:46 GMT

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3900

Re: SOL for Colorado CC debt?

sindi — Sat, 21 Jul 2007 18:25:57 GMT

Thanks for the lookup and sample letters. How's this one for a PMS?

------------------------------------------------------------------------------

To Whom It May Concern:

In reviewing my records, I have noticed you placed an inquiry on my TransUnion credit file dated 09/13/2005.

As you should know, Credit Reporting Agencies treat inquiries as a statement of fact and will not allow a consumer to dispute them. Since it is against federal law (Fair Credit Reporting Act -- 15 USC § 1681n(a)(1)(B) for an entity to view a consumer’s credit report without a "permissible purpose," I am writing to inquire as to your alleged purpose for doing so. I did not give you permission to view my credit file, nor did I not apply for employment with your organization or request credit from your organization.

Based on the evidence in my possession, this inquiry was performed under false pretenses as described in the clear language of the law. 15 USC §1681n(a)(1)(B ) states, in part, "in the case of liability of a natural person for obtaining a consumer report under false pretenses or knowingly without a permissible purpose, actual damages sustained by the consumer as a result of the failure or $1,000, whichever is greater;"

You are civilly liable to me in the amount of $1,000.00 for your willful violation of the law -- performing a "hard inquiry" on my TransUnion file without my permission. I will accept $500.00 as settlement for this violation. If this inquiry is still present on my TransUnion file, you will remove the inquiry within one (1) business day of the receipt of this notice.

Any future inquiries on any of my credit files without a "permissible purpose” will be viewed as additional violations of the FCRA, and we will be meeting in court.

I can be reached at the address listed below.

Sincerely,

---------------------------------------------------------------------------

I won't hold my breath--saw somewhere else in the forums where someone actually won a judgement against NCO. They are still waiting for the $$. Send this letter CMRRR also? I 'm sending the DV today.

Regards,

sindi

Re: SOL for Colorado CC debt?

fused — Sat, 21 Jul 2007 19:05:40 GMT

Noah_Bodie wrote:
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3900

Noah, I was hoping for one in your words.

Re: SOL for Colorado CC debt?

Noah_Bodie — Sun, 22 Jul 2007 01:14:35 GMT

fused111 wrote:

Noah, I was hoping for one in your words.

I've contacted both Mike Ditka and Bobby Knight for samples. I believe they are the true masters of subtle negotiation. :smileywink: