Debt collectors trying to collect on old debt....

[Anonymous]

Can debt collectors collect on debt that has already fallen off my credit report? Received a call about an account from 2002. It was opened in 1994 which I would like to point out I was a minor. 

[gdale6]

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@Anonymous wrote:

Can debt collectors collect on debt that has already fallen off my credit report? Received a call about an account from 2002. It was opened in 1994 which I would like to point out I was a minor. 

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They can attmept collection forever but since you were a minor when it was opened you were too young to enter into a legal contract and I would inform them of such in your C&D letter.. If its not your debt and was a result of Id theft then I would read the info in this thread

http://ficoforums.myfico.com/t5/General-Credit-Topics/Victim-of-Identity-Theft-What-To-Do-to-Protect-Yourself/td-p/2059499

[Anonymous]

Yes, they can. And in many jurisdictions, a creditor can even bring a lawsuit for an old debt that's outside of the statue of limitations (4-6 years typical, but can be little as 3, such as Delaware, and upwards of 8-10, such as Rhode Island). Uncommon, but it does happen. Typically, very easy to get the case tossed by responding to the suit with an affirmative defense indicating the debt is outside the statue of limitations and is "time-barred".

A "time-barred" debt can still be a legal debt though, but there's no viable avenue through the court system for the creditor to force payment.

As for what to do, if the collection calls continue, consider mailing them debt validation letter and/or a cease and desist letter via certified mail indicating something to the effect the debt is "time-barred", and they are to cease contacting you. Do not admit to the debt being yours.

[RobertEG]

Depending upon your state of residence, they may have to inform you if the debt is clearly outside of SOL that the debt is time-barred, and thus they will not be pursuing legal action to recover.  However, as stated by others, that does not mean the debt no longer exists, or prevent them from continuing to collect provided they otherwise comply with all statutes and regs.

If you do not wish to pay, you can simply send them a cease communiation letter under FDCPA 805(c).

Just be aware that future creditors may still become aware of the unpaid, delinquent debt, such as by a simple request in their application papers for such a listing.

[Anonymous]

Depending upon your state of residence, they may have to inform you if the debt is clearly outside of SOL that the debt is time-barred, and thus they will not be pursuing legal action to recover.  However, as stated by others, that does not mean the debt no longer exists, or prevent them from continuing to collect provided they otherwise comply with all statutes and regs.

If you do not wish to pay, you can simply send them a cease communiation letter under FDCPA 805(c).

Just be aware that future creditors may still become aware of the unpaid, delinquent debt, such as by a simple request in their application papers for such a listing.

I often hear this, but I wonder if it is true. How could they become aware? If the information is no longer on a credit report then it is gone right? Where would the bureaus store all of this outdated hidden information and how can future creditors see this hidden information? It would take a lot of storage and a lot of cost to store it as well. Maybe the above is correct, but it sure sounds like an old wives tale that collection companies use to scare people into paying.

[Anonymous]

Depending upon your state of residence, they may have to inform you if the debt is clearly outside of SOL that the debt is time-barred, and thus they will not be pursuing legal action to recover.  However, as stated by others, that does not mean the debt no longer exists, or prevent them from continuing to collect provided they otherwise comply with all statutes and regs.

If you do not wish to pay, you can simply send them a cease communiation letter under FDCPA 805(c).

Just be aware that future creditors may still become aware of the unpaid, delinquent debt, such as by a simple request in their application papers for such a listing.

I often hear this, but I wonder if it is true. How could they become aware? If the information is no longer on a credit report then it is gone right? Where would the bureaus store all of this outdated hidden information and how can future creditors see this hidden information? It would take a lot of storage and a lot of cost to store it as well. Maybe the above is correct, but it sure sounds like an old wives tale that collection companies use to scare people into paying.

[Anonymous]

Depending upon your state of residence, they may have to inform you if the debt is clearly outside of SOL that the debt is time-barred, and thus they will not be pursuing legal action to recover.  However, as stated by others, that does not mean the debt no longer exists, or prevent them from continuing to collect provided they otherwise comply with all statutes and regs.

If you do not wish to pay, you can simply send them a cease communiation letter under FDCPA 805(c).

Just be aware that future creditors may still become aware of the unpaid, delinquent debt, such as by a simple request in their application papers for such a listing.

I often hear this, but I wonder if it is true. How could they become aware? If the information is no longer on a credit report then it is gone right? Where would the bureaus store all of this outdated hidden information and how can future creditors see this hidden information? It would take a lot of storage and a lot of cost to store it as well. Maybe the above is correct, but it sure sounds like an old wives tale that collection companies use to scare people into paying.

[Anonymous]

I too have the same question. How will old unpaid debt be brought to light well after CRPT?

[RobertEG]

Credit report exclusion based on expiration of one of the credit report exclusion periods does not result in the CRA deleting the information from your credit file.

It simply imposes a bar against the CRA including that information in normal credit reports they issue.

The distinction can be more than simply academic.  The credit report exclusion provisions of FCRA 605(a) are not absolute.

They are totally exempted under the conditions set forth in FCRA 605(b), and can be included in special credit reports, such as one in which the consumer is requesting credit in the amount of $150K or more.  Under such conditions, the creditor can request and receive a full-file credit report that includes all reported derogs, including those normally excluded.  While such full-file credit reports are rarely requested since the creditor can simply request the information directly from the consumer, they are nonetheless possible.

A PFD granted by a furnisher is thus better than credit report exclusion, as the furnisher reports deletion of the information from the consumer's credit file.

Unlike credit report exclusion, the information is thus gone from your credit file.