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Valued Contributor
annielorie
Posts: 1,207
Registered: ‎02-19-2012

Debt Recovery Solutions LOL

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. 


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Moderator
Shogun
Posts: 12,896
Registered: ‎04-15-2011

Re: Debt Recovery Solutions LOL

Zombie debt.  Gotta love it.


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Valued Contributor
annielorie
Posts: 1,207
Registered: ‎02-19-2012

Re: Debt Recovery Solutions LOL

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


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Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: Debt Recovery Solutions LOL

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).

 

Established Contributor
jamie123
Posts: 744
Registered: ‎03-22-2012

Re: Debt Recovery Solutions LOL

[ Edited ]

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!

 



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Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: Debt Recovery Solutions LOL

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.

 

Valued Contributor
annielorie
Posts: 1,207
Registered: ‎02-19-2012

Re: Debt Recovery Solutions LOL

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


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Established Contributor
jamie123
Posts: 744
Registered: ‎03-22-2012

Re: Debt Recovery Solutions LOL

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



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New Contributor
KnewBee
Posts: 89
Registered: ‎10-10-2012

Re: Debt Recovery Solutions LOL

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! 

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Contributor
Rlandon87
Posts: 92
Registered: ‎10-03-2012

Re: Debt Recovery Solutions LOL

It's obvious that there are people in the world who are the reason for higher prices and economic problems for the rest of us.

The comment of the debt should not be goof after the SOL and for someone to have that attitude is ridiculous. YOU used the credit extended to you as a means to purchase something in return for your promise to pay.... I don't care if its 30 years down the road when you're able to afford the debt- it is STILL YOUR RESPONSIBILITY.

This is in no way directed at OP - and glad you could get it resolved if the debt was not in fact yours.

Irresponsibility/immaturity pisses me off....
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