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So for those of u who know my postsI repaired my credit (old debt) clean report and built because I had no loans or CC. I actually just started a venture to teach others what took me almost a year on my fico and various other sites. So I come home yesterday to a dunning notice for Verizon. I called today and the women tells me the account # assoc. with the debt. I almost fell over laughing! A) The debt is over 9 years old. B) It was when I had a roomate that I cleared this up with them several years ago. So people getting mortgages dont freak on the dunning this proves that zombie debt is alive and kicking keep your notes on everything.
Zombie debt. Gotta love it.
I actually lost my breath for a second. When I explained what I mentioned in the post the lady was like thats correct we cant do anything then why are u writing me!! Sad part is some poor shmuck will pay this in fear of mortgage ie hitting reports
I would not necessarily laugh at their attempted collection, as it indicates there is a creditor out there who is asserting unpaid, delinquent debt.
I could still affect you.
With the debt being elderly, they cannot get it into your CR, and SOL has most likley expired, so they cannot bring successful legal action.
However, neither of those occurences means the debt no longer exists. You still have an apparently unresolved issue of asserted debt.
While potential future creditors wont be able to see their claim of old, unpaid delinquent debt from a simple pull of your credit report, they may become aware of it through other means, such as associate information sharing, or simply asking you if you have any unpaid, delinquent debt.
If the debt is legit, there may still be reason to pay it. Your call.
However, if you wish to make them go away, simply send a timely DV, which places a total cease collection bar on them, eliminating any further calls until such time as they might choose to provide debt verification. If they do respond, which is highly unlikely, then you can follow up with a cease communication letter under FDCPA 805(c).
@RobertEG wrote:I would not necessarily laugh at their attempted collection, as it indicates there is a creditor out there who is asserting unpaid, delinquent debt.
I could still affect you.
With the debt being elderly, they cannot get it into your CR, and SOL has most likely expired, so they cannot bring successful legal action.
However, neither of those occurences means the debt no longer exists. You still have an apparently unresolved issue of asserted debt.
While potential future creditors wont be able to see their claim of old, unpaid delinquent debt from a simple pull of your credit report, they may become aware of it through other means, such as associate information sharing, or simply asking you if you have any unpaid, delinquent debt.
If the debt is legit, there may still be reason to pay it. Your call.
However, if you wish to make them go away, simply send a timely DV, which places a total cease collection bar on them, eliminating any further calls until such time as they might choose to provide debt verification. If they do respond, which is highly unlikely, then you can follow up with a cease communication letter under FDCPA 805(c).
I totally disagree with your response. There is a reason for SOL. This is still a free country (Believe it or not.) and we are all bound by the rule of law. Once the debt is past the SOL it doesn't really exist anymore. I would sue any debt collector that tried to even threaten me with some type of disclosure to other lenders of this debt.
If they can't pursue legal action to collect the debt the debt doesn't exist. Just how would they prove this debt was in fact legitimate if they can't take it to court!
I know of no SOL statute that stipulates that a debt no longer exists based on lack of ability to commence legal action through the courts to order its repayment.
You are certainly entitled to conclude that expiration of ability to commence legal action = evaporation of debt.
I stand by my earlier post that it does not.
Just so ypu are aware the debt is not valid and I dealt with Verizon several years ago. The reason I picked up the phone is to make sure noone elses crap gets on my reports. I had a tenant in the main house of my property that was evicted I cant tell u how many calls i get for them daily. Im talking about bad Zombie debt that gets shuffled around amongst CA's most of which is invalid not only because of SOL but because it was handled with the OC YEARS prior
Well...Unless the debt was owed to the mafia and they were threatening to break my kneecaps I would do just as the OP did and laugh in their face.
Expiration of ability to commence legal action = Expiration of legal enforcement of collection
Hi I think Robert makes a really good point. Jamie, I see where you are coming from and understand what you are trying say, but even though the SOL means they can no longer sue you for the debt, the credit reporting period is legally 7 years so the fact they can no longer sue isn't even relevant to how long they can (legally) report in states where the SOL is less than 7 years. Also Robert makes a good point about the debt still being able to possibly affect you after both SOL and Credit reporting period. There are many other vendors not frequently discussed on here that share information internally and in their own industry that may last longer than the SOL and reporting period like check cashing, banks, lenders with blacklists ect. I apologize, because I can't recall exactly where I saw this to cite it, but I know some of the laws I have read on debt collection, credit report and SOL do make mention of the fact that going past both SOL or Credit reporting period does not extinguish a debt, it simple prevents a creditor from suing or reporting.
I do really wish that it did though! Good discussion and FYI, I have occasionally seen some proposed legislation and lawmakers that want to change the law to lower the Credit Reporting Period to match SOL in states where it is lower. It is rarely discussed and as such probably has little chance of happening anytime in the near future, but for those of us registered to vote, something we should look for and support and maybe that will change!