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Frequent Contributor
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Registered: ‎06-05-2007
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hello everyone i have been reading the forums  off &o...

hello everyone i have been reading the forums  off &on for 2 or3 weeks. i have a general ques. i have sum ca trying to contact me, my ques is should i pay them any attention, considering the fact that the acc are no longer on my cr, due to the sol. it is at else 8 yrs old, wat should i do.  also the ca isnt reported on my cr.  im confused on wat i should im trying 2 re build my credit. thank you
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Re: hello everyone i have been reading the forums  off &o...

It all depends on what state you live in and what your state's Statute of limitations are .  
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Registered: ‎06-15-2007
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Re: hello everyone i have been reading the forums  off &o...

i believe your SOL starts over anytime there is activity on the account ie; making a payment
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Re: hello everyone i have been reading the forums  off &o...

ty,im in n.y.
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Re: hello everyone i have been reading the forums  off &o...

nyc. also i have a cc thats about to fall off of my cr. should i  try 2 pay it just let it fall off in 3months
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Re: hello everyone i have been reading the forums  off &o...

NY I do believe is 6 years for the Statute of Limitations.   So I think you are ok.    If you dont' want to pay it then send the CA's a cease and desist letter stating the debt is beyond NY's Statute of limitations.
But there is a catch though.  This does not forbide them to try and sue, in hoping you don't show and they are rewarded a default judgment.   It's a shot in the dark for them and they are succesful.   If by chance one of the CA's try and sue,  YOU MUST ANSWER THE SUMMONS  as the debt is time barred as your defense and plan on showing up to court NO MATTER WHAT, even if the CA say's it will drop the case,  plan on showing up anyway.  
 
This also doesn't prevent them from selling your debt to another junk debt buyer, so you will always have to keep an eye on your mail,   you have to keep on top of all three of your credit reports to make sure there aren't reporting.
 
When debts are beyond the SOL's   CA's hope that most consumers don't know their rights, that there is such a thing as SOL on bad debts and also hope they ignore any summons.    You also have to remember that it is up to you as the defendant to prove that the debt is out of the SOL.   so if you don't have any records from your Credit report get them and keep them safe and sound.    And any past records of your debt as well.   It's not as easy as just telling the judge, "It's too old to collect on", he'll so OK  how old is it.   The attorney for the CA isn't going to tell the judge.  
 
Now I'm not saying this is going to happen, but it could and you just have to be prepared.   There is no SOL on attempting to collect on debt just on when they can legallly obtain a judgment against you.  so just have all your ducks in a row.     Using the SOL to get out of paying a debt can work but you will always have to keep looking over your shoulder,  and always staying on top of your credit report. 
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Re: hello everyone i have been reading the forums  off &o...



future wrote:
nyc. also i have a cc thats about to fall off of my cr. should i  try 2 pay it just let it fall off in 3months

 

Well that depends.  How much is the debt?   Have the CA been more aggresive in their attempts to collect?   when was the last time you paid on it.

 

That last questions goes for your original post as well.   When was the last time you paid on these debts?   Was it well over six or seven years ago?    A state's SOL restarts on the last payment you made.   So if you made a payment lets say 3 years ago, then NY States SOL starts again from that point.    You have to remember that, just because it's not on your credit report doesn't mean that the debt isn't enforcable in court if it's under the States SOL.   Just keep that in mind.


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Re: hello everyone i have been reading the forums  off &o...

Try the FOAD letter. :smileyvery-happy:
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Re: hello everyone i have been reading the forums  off &o...

it was 2000 or 2001 when my last payment was made an dthe acc went into default,on my report it states that it will come off in sept ,or oct2007... i was younger and not as responsable, no im planning for my future and under the importance of my credit.... i have been working hard to try 2 mend the damageive caused to it...my scores are now  over 600 , but im shooting for 700.....the sol and crtp are basically the same.    also if i get a cc will that help my cs go up....   thank you everyone for the help, it well appreciated
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