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Sol on cc debt KY

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Anonymous
Not applicable

Sol on cc debt KY

Pra is collecting on an acct from commenity. When I log in to view acct it has a notice that the statute of limitations is up and they will not sue me for this. Dofd is 11/13. My understanding is that the SOL is 5 yrs min in KY. Can anyone offer any insight as to why they have this message?
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RobertEG
Legendary Contributor

Re: Sol on cc debt KY

It is becoming the practice for state statutes/regs to require a debt collector to include advisement of SOL notification in communications with consumers.

New York, Calif, and Mass already have such requirments.

The FDCPA is currently developing proposed federal rulemaking, which may impose such a requirement nationally.

 

It is their prudent voluntary compliance with the growing trend that debt collectors provide such notices to consumers.

 

Additionally, PRA has been placed under sanctions by the CFPB for various practices, one of which is lack of advisement to the consumer when the SOL has clearly expired that they cannot initiate any civil action on the debt.  Addition of notices to their web site is likely to placate the CFPB.

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medicgrrl
Valued Contributor

Re: Sol on cc debt KY

Are you getting the DOFD from you free annual credit report?



EQ 778 EXP 782 TU 729
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