PLEASE, Need help with a collections issue!!

[kamila7]

I have this bill from 1999, that says it got charged off in 2001, well today out of nowhere a collector called trying to get money for it, he says his company acquired this in Feb 2008.  Isn't there the statute of 7 years to try and collect?  Does this start the whole 7 years again?  Do I still have to pay it and if I do will it hurt or help my credit score?  I am really confused and have been trying to improve my score so am quite nervous about this whole deal...Can someone give me suggestions or some helpful advice?  Please!?!

Thanks,

Kamila

[Anonymous]

Your SOL does not restart as it is on the DOLA or DOFD. I would DV the CA, it should be past your SOL.

[kamila7]

How do you DV the CA? and for DOLA what does that include? Talking to me over phone?

Thanks for the response!

[Junejer]

Kamila, welcome to the forums. You need to first know what your state's SOL is for the type of debt in question. You also need to know the DOFD/DOLA of the debt (month and year). What's showing on your CRs? If past SOL, then you can DV the CA, if it's showing up. If past seven years, then you can just dispute with the CRAs as obsolete. No, it can't start your seven years all over again.

[kamila7]

Thanks for the help,

Here is some additional info... DOLA was Mar 2002, DOLP was May 2001, DOFD was July of 2001, date opened was Aug 1999.  How does the statute get started all over again then?

[azsassycat]

Isn't there the statute of 7 years to try and collect?  The SOL (statue of limitations) is determined by the state you live in.  The CRP (credit reporting period) is seven years from DOFD or DOLA.  What state are you in and/or what state was the debt aquired in?

How do you DV the CA?  To DV (debt validate) the CA (collection agency) you send a request for debt validation letter via CMRRR (certified mail return receipt requested) to the CA.  I've included an example below or you can search the boards for other examples.

Do I still have to pay it and if I do will it hurt or help my credit score?  If you do decide to pay the debt after the debt has been validated be sure to send a PFD (pay for deletion) letter before you agree to pay the debt.  You can search the board for examples of PFD letters.  If the conditions of the PFD are agreed to, the CA must delete all reference to the collection account from your credit reports.  This method of payment could help your credit score; just paying the collection account could hurt your credit score.

DOLA - what does that include?  Some consider DOLA the last time a payment was made or the last time you used your card.

***SENT VIA CERTIFIED MAIL***

Certified Mail No. 12341234123412341234

Re:            Collection Account #: XXX1234

To Whom It May Concern:

THE VALIDITY OF THIS DEBT HAS BEEN DISPUTED.

This letter is being sent to you in response to an entry made on my TransUnion credit report dated January 1, 2008.  Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 1: ) USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.

Under the Fair Debt Collections Practices Act, I have the right to request validation of the debt you say I owe you.  I am requesting proof that I am indeed the party you are asking to pay this debt, and there is some contractual obligation which is binding on me to pay this debt.  This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section of the Fair Debt Collection Practices Act.

You should also be aware that reporting inaccurate and unsubstantiated information to a credit reporting agency might constitute fraud under federal law.  Additionally, you should also be aware that sending unsubstantiated demands for payment through the United States Mail System might constitute mail fraud under federal and state law.  Your legal staff will agree that compliance with this request is required under the laws of state and federal statutes.

Please include the following:
1. Agreement with your client that grants you the authority to collect on this alleged debt, or proof of acquisition by purchase or assignment.

2. Agreement that bears the signature of the alleged debtor wherein he or she agreed to pay the creditor.

3. Proof that your company is licensed as required by ARS Title 32 Chapter 9 Article 2 to conduct a collection agency in Arizona.

I require compliance with the terms and conditions of this letter within thirty (30) days or a complete withdrawal, in writing, of any claim.  In the event of noncompliance, I reserve the right to file charges and/or complaints with appropriate county, state and federal authorities as well as the Better Business Bureau for violations of the FDCPA, FCRA, and federal and state statutes on fraudulent extortion.

I also hereby reserve my right to take private civil action against you to recover damages.

Sincerely,

Azsassycat - just type DO NOT SIGN

123 S Anystreet St

Anycity AZ 12345

[Junejer]

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@kamila7 wrote:

Thanks for the help,

Here is some additional info... DOLA was Mar 2002, DOLP was May 2001, DOFD was July of 2001, date opened was Aug 1999.  How does the statute get started all over again then?

---

By paying the CA, without a PFD.  This debt should be falling off of your credit reports this summer or so anyway, so be careful how you handle this.

[kamila7]

The debt is from Michigan, I live in Illinois now.  What if I just ignore it then won't the SOL take place and fall off soon?  Or is that a REALLY bad idea?

[Anonymous]

SOL = Stafute of Limitations Check here --- this is how long a creditor can win a judgement within.  If past SOL then they are the other S-O-L because you claim in court, (so you do go to court, smirking the entire time) and ask for a dismissal due to the fact that SOL has expired.

CRTP is how long if can stay on your report for (this should NEVER change) and is 7-7.5 years from first deliquency leading to charge-off/closing of account/etc -- and is set by the OC