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One last SOL question before sending letter

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Anonymous
Not applicable

One last SOL question before sending letter

I have  two old cc debts that were opened in 2000, one went bad in Oct of 01 and the other March of 02, this was last activity. Went to Arrow Financial Services first then portfolio Recovery bought both the debts in March of 07. Neither account is showing on any report, but Portfolio has been calling and sending their letters and I need it to stop. The debt isn't that much but I'm afraid if I pay now it will show up "paid" on a bad debt and bring my score down, which I have worked feverishly to get to above normal. I have read the SOL posts but need to be sure if I send a C/D letter. My old reports stated that both of these would be off my reports by Oct 08 and Feb of 09 which they are, my question has SOL been surpassed? Can I send letters to C/D?

 

 

thank for the help

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: One last SOL question before sending letter

SOL is the statute of limitations of when you can still be sued in court. It has nothing to do with the accounts falling off your CR. That will still remain as 7-7.5 years from DOFD.
Message 2 of 8
DI
Super Contributor

Re: One last SOL question before sending letter

Zombie debt collectors at it again.  You can tell them verbally to stop calling you.  If the SOL in your state is 7 years or less they can't threaten to sue or make you pay.  They can continue with the calls.  It may be best if you send a letter if you think telling them verbally won't stop them from calling. 

 

 

Message Edited by DI on 08-26-2009 06:28 PM
Message 3 of 8
Anonymous
Not applicable

Re: One last SOL question before sending letter

I know my state SOL in my state is 7 years, so your saying even if I send a letter telling them that the SOL is up, they can still call and send their threating little letters?

Message 4 of 8
RobertEG
Legendary Contributor

Re: One last SOL question before sending letter

To cease communications from a CA, you need to send a letter under FDCPA 805(c), notifying them to cease further communcation with you.

Expiration of SOL does not bar further collection activity. 

Message 5 of 8
Anonymous
Not applicable

Re: One last SOL question before sending letter

SOL doesn't mean you don't owe the money anymore. Just that they lost the right to sue you for it in court.
Message 6 of 8
RobertEG
Legendary Contributor

Re: One last SOL question before sending letter

Expiration of SOL does not mean they have lost the right to sue.  If offers you an affirmative defense to show up in court and get it dismissed.  If you dont show up in court and assert it, you will get a judgment against you, even if SOL has expired.
Message 7 of 8
Anonymous
Not applicable

Re: One last SOL question before sending letter

Ok I understand I still owe the money and can pay off the debt now but if I do pay these debts won't they appear back on my report as a bad debt charge off "paid"?
Message 8 of 8
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