Credit Report Help

[guiness56]

Its 6 years so you are still within SOL for another year and a half.  Which means they could bring suit against you.

[RazzleDazzle]

If I make a payment on it does it reset the SOL?

Can I request they verify the debt, etc.?

From looking at my reports it shows that the debt was never charged off, etc. It also doesn't show who now owns it even though it says that it was sold/tranferred to another lender.

[guiness56]

That is a tough question to answer.  By the general laws of NY, no it does not.  However, it is really dependent on what a judge decides and there are several cases in NY where they decided a payment does restart the SOL.

You can ask for a DV, however, unless you can pay in full and they validate, they could turn around and sue you anyway.

You can ignore them and wait and see if they do file a suit against you.  And you don't really want that.  Or you could contact them and try for some sort of payment arrangement or settlement arrangement.

As for a judgment, because you are unemployed, you would be non-collectable.  But you don't want a judgment on your CR.

[RazzleDazzle]

Would they be able to seize current assets, i.e. cash in the bank, if they filed suit?

[guiness56]

First they would have to get a judgment but afterward it would be possible.

You should try to find a consumer attorney who gives free consults to see what you can do.