I need some help figuring out what to do in the following situation. The below original creditor account is cut from my Experian report showing my last payment was made in Oct 2008 making it past the SOL in my state of California.
The following CA account is cut from the same report collecting on the original CA account from Credit One posted above. Can this CA collect on the account if it is past the SOL on the original account? I get several calls from creditors trying to collect on this debt. What are my options on how to proceed in this situation? I have read a lot on people sending DV letters to Midland funding and receiving court summons at their door in return. Do I have any options in fighting this debt?
Just because a debt, whether it is the OC or the CA reporting it, is beyond your states SOL does not mean the debt is uncollectable. It just means they cannot sue you and win if you were to use expired SOL as your defense.
The debt will be around and collectable until paid.
It cannot be included on your credit report past the exclusion date which is 7 years plus 180 days from the date of first delinquency.
Since your debt is beyond SOL for suing Midland cannot sue you. Send them a DV.
Thanks again guiness56 for your quick and helpful replys.