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Established Member
Posts: 16
Registered: ‎06-20-2007
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What should I do? SOL has passed but collection agency is trying get paid!

I have a charged-off account with Merrick Bank with October 2000 being the last date of activity on my Equifax and TransUnion reports and September 2000 with Experian.  This account is past the sol in SC and AL (where I lived when the card was opened) and is scheduled to fall off my credit report by October 2007.  However, I received a letter from Receivables Management Solutions stating: 
 
Merrick Bank has placed your account with this agency for collection.  Merrick Bank if offering a settlement of $785.57 that can be make in two payments.  Once the first payment is applied to your account the second payment should be made within 30 days.  This offer may expire without notice or be revoked at any time.  When the two payments of $39.78 are paid to our office on time, we will report to Merrick Bank that your above noted account is settle in full.
 
Since the sol of limitation has passed on this account and it is scheduled to be removed from my credit reports by October, how should I handle this letter?  Should I ignore this letter or should I send them a letter informing them that the SOL has expired?  I don't want to re-start the clock on this account because I tried numerous times years ago to try and settle this account. Merrick Bank refused to work with me.  Since this account will be gone within 3 months, I think I should ignore this letter.  However, really respect the advice I receive here.  Please HELP!!
Established Contributor
Posts: 510
Registered: ‎04-17-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!

send them a letter stating that SOL has passed. I think somebody posted an example letter on the boards somewhere..
Established Contributor
Posts: 678
Registered: ‎05-29-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!

Offer 'em $100 for a PFD!
" I like to live as a poor man, with a lot of money." - Pablo Picasso (who was a jerk.)
Established Contributor
Posts: 510
Registered: ‎04-17-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!



TexMontana wrote:
Offer 'em $100 for a PFD!



....In 100 payments of $1.
Established Contributor
Posts: 678
Registered: ‎05-29-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!

Ofcourse!!Smiley Wink
" I like to live as a poor man, with a lot of money." - Pablo Picasso (who was a jerk.)
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!

DV them.. if they are reporting send this letter to the CRAs:
 
--
 
Dear CRA
My Name is xxxx
My SS # is xxx xx xxxx

I am sending this dispute certified mail # xxx to insure it's receipt.
On my credit report # xxxxx the following account(s) is/are inaccurate
Account # xxxxx
 
I have no record of this/these account(s) from this/these creditor(s)
for this/these dates for this/these amount(s)
 
Any accounts I may have had in the past with any similar creditor(s)
would have had a date of last actvity over 7 years ago and would be
obsolete.
 
If this/these account(s) is/are verified, please furnish me with the
name and address of the verifying party,the method of verification, and
the reported first delinquency from the original creditor.
 
Sincerely,
 
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!

Established Member
Posts: 16
Registered: ‎06-20-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!

Tuscani,
 
Please help me to understand how to send the DV letter.  The legal statue of limitations has expired on this account but the SOL for the credit reporting agencies (last date of activity is 09/07 for Experian and 10/07 for Equifax) will not expire until October 2007.  Therefore, should I send the DV example letter and will it cover my situation?  Thanks so very much.
 
Vee
Established Contributor
Posts: 510
Registered: ‎04-17-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!



veerob982003 wrote:
Tuscani,
 
Please help me to understand how to send the DV letter.  The legal statue of limitations has expired on this account but the SOL for the credit reporting agencies (last date of activity is 09/07 for Experian and 10/07 for Equifax) will not expire until October 2007.  Therefore, should I send the DV example letter and will it cover my situation?  Thanks so very much.
 
Vee


 
how can the last date of activity be "09/07 and 10/07"? That's in the future. Maybe you meant to say date that this will fall off you report?
 
In your letter, you can stipulate that sol has passed and tell them to remove it from all three of the credit bureaus.

 
Moderator Emeritus
Posts: 7,326
Registered: ‎06-18-2007
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Re: What should I do? SOL has passed but collection agency is trying get paid!

I am also confused by your dates.
The SOL for CRA is 7 years from DOFD (not activity) your state SOL might be last activity.
 
 
 
I am writting a letter to CRA asking to remove due to Obsolete.....it is due to drop in Dec 2007. I found where the CO is claiming that my DOFD is Oct & not as CRA shows Dec.
They can only say no.
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