11-16-2009 09:23 AM
I have a couple of CC CO's that are nearly to their SOL and have found the CA - all junk debt buyers, are scrambling around selling the accounts with very little effort to collect. Makes me wonder if I had to validate, if they'd be able to. They've been to 3 different CA's each. Some with no mail at all and the others with 1 or 2 recorded messages to call back, which I refuse to call CA. We're not talking big money either, but I'm so close, I'll play the game a little longer. Any insight from anyone else that's seen this?
I've looked at my CR and they are not reporting the delinguency date for me to truly determine the time frames, other than the post deletion date from the CR and I'm taking 2.5 yrs off that for SOL.
I had a new one show up last month for something that I know is about 8 years old, they'll try anything in this market to get money, even $50. No F in way!
11-16-2009 10:26 AM - edited 11-16-2009 10:27 AM
What is your date of first delinquency (DOFD) with each of the original creditors? Dont rely solely upon your CR for this date, use your account records.
Find the first 30-day late in the most recent chain of delinquencies that preceded the CO or CA.
If you plan to wait out the SOL, be doubly sure you know your state SOL law inside and out.
It doesnt matter how many CAs have been involved, for nothing they do can reset the DOFD, and thus the 7 1/2 year drop off date set under FCRA 605(c).
In most states, the same DOFD sets the date of expiration of the SOL, but it varies. Some set it from date of last payment, and some provide for resets based on offers to pay. What is your state SOL statute for revolving (open) accounts? How long? Does it permit reset based on later payments, or offers to pay?
Nail down your precise DOFD, and your state SOL provisions.