@Anonymous wrote:
Another question,
I am in alabama and I am having a hard time establishing the difference in SOL here.
Collections are 3 years. Since I am sending a DV to the collection agency, does this apply?
Or is this a contract? (which is 6 years here )
When can I send a DV?
Is it too late for this?
SOL is the time frame a creditor has to sue you. It has nothing to do with reporting. The only time SOL should enter your mind is if you are tackling a debt that is inside SOL and you don't have the $$$$ saved to pay in full, if you had to. You wouldn't want to start sending letters on an unpaid debt and have them sue instead (it happens).
DV letters are allowed by law through the Fair Debt Collections Practices Act (FDCPA). In that law, DV letters only go to collection agencies. By law, a collection agency must send you a letter called a dunning letter and that outlines that you owe so-and-so money, by how much, and they also must tell you that you have "30 days to dispute the validity of this debt..." and so on and so forth. By the law, you now have 30 days to mail a DV letter to them. They must respond with the OC's name, contact info, balance owed, and a copy of the judgment if sued already.
If you are past the 30 days, then legally, your DV means nothing. However, IME, most CAs will respond fairly quickly if you were to send them one.
There's an SOL on everything ranging from murder, to burglary, to parking tickets, to unpaid student loans. In the realm of credit, it's generally broken down by 4 areas: 1) Open (as in open-ended) which include CCs, 2) Written (e.g. medical, phone debt, utilities if a contract was signed, etc.), 3) Promissory (e.g. loans), and 4) Verbal which isn't that common within these forums. If you are asking about SOL-type, and are referring to Jefferson, then it would be under Open because the debt was a CC.
