New CA sent settlement letter on Acct that just fell off all 3 CR ???

[Rvan1961]

Arrow Financial,previously Providian had a CA that just fell off all 3 of my CR's last month. Today I get a letter with a 50% settlement offer from Northland Group INC from Minneapolis,MN that states that Arrow assigned this old account for collection !!! It says unless I notify this office within 30 days disputing the validity of this debt they will assume this debt is valid.

What should I do. I live in Calif and the SOL is way over. This never had a judgment, I never heard from Arrow in the past 4 years or so?

Can I still be sued for this nearly 7 year old debt even after the 3 Credit Bureau's have deleted it off my CR's? Just what is the wise thing to do now?

Any 'Expert" advice is much appreciated

[LIGHTNIN]

I am not an expert, but I'll try to help. SOL and CRTP is two different things.It's very common here in the forums, these 2 get mixed up.

CRTP is the time an item stays on a CR.Most of the time it's 7 to 7.5yrs.

SOL is the time period you are legally responsible for the debt and can be sued.

Each state has different lengths of time and also different laws pertaining to debts.

I've heard a few states have laws about restarted the SOL, so I would suggest checking your states laws.

[Rvan1961]

Thanks for your response. Here in Calif, the SOL is 4 years. That means it ended 3 years ago on this account. There is no restarting as far as this acct is concerned.

I am just wondering how to answer this 'new' CA or if I need to even worry about it at all. It seems they are kinda beating a dead horse since they can't sue or obtain a judgment (as far as I can tell) and the account is no longer on my 3 CR's so they can't use that as a leverage tool. I just want to know the right way to handle this particular case.

God knows if I had the money I would settle for 50% all day long just to ease my conscious

[LIGHTNIN]

CA's can try to collection on an unpaid debt forever.key word is try.

There is a letter around here, called cease and desist. Try using the search box to find. Or google to find.

Another name for it is FOAD letter,....letters mean **** off and die.

Sorry going to bed it's late. maybe others will chime in soon.