@chartley3 wrote:
I had a debt that was going to fall off my credit report at the end of the calander year when I received a phone call from a collection attorney stating the CA whats to move forward and get a court judgement on the balance owed before the SOL for reporting runs out so its a new baddie on the report. Luckily it was only $600 and I settled it. However the Lawyer I spoke with told me that he is seeing an increase in this way of collecting on old debts and legally the judgement can stay on as a new entry. I point this out as I have seen some discussions that letting sleeping dogs lie is a good thing. Well it seems those sleeping dogs might be waking up just in time to try and bite you in the a$$.
If I understand correctly, and some of the experts on here please correct me, there could possibly be 2 dates involved here. One date is the SOL date for reporting debt on your CR, and the other is the SOL for any CA filing a judgement against you.
For example, in Texas the SOL for filing a court judgement is 4 years, but the debt can still be reported on your CR for 7 years.
Also, did the person calling you specifically state he was an "attorney" or did he say he represented a collection law firm? I think that is also another area of contention if they misrepresent themselves as an attorney and they are not.
Only reason I bring all this up is because I have a couple of baddies that are schedulded to come off either this year or the first of next year due to the SOL for FCRA. I am still not sure if since the CA bought the debt 2 years ago if the statue allows them to pursue legal action for 2 more years or if it is 4 years from the originial delinquency date. I am still researching that.
Regadless, thanks for the heads up! The more we know, the better we can protect ourselves.
Peace