topic Re: HELP!! Capital One trying to revive a 12 year old Autoloan in Auto Loans

HELP!! Capital One trying to revive a 12 year old Autoloan

nastalgia — Fri, 23 Aug 2019 21:12:20 GMT

Hoping to get some advice on this issue if anyone has experienced this before.

So I bought a used car back in 2007 financed through Cap One with a high interest rate just before the recession. I felt behind my monthly payments after almost 2 years and the car got repossessed in 2009. Car was auctioned off and the reminder of the bill was sent to collections which was taken off my credit after 7 years or so.

Last week a received a letter stating I have upcoming payments with Cap One Auto finance with an account number and was stunned thinking their breach got my info exposed for hackers. So I called and the person on the phone after verification states its my old loan from 2007 and I owe them. After a brief argument with them I simply just hanged up.

My question is how can get them to not ever try to contact me or try to send me back into collections or even attempt to sue/garnish my wages? This loan is too **bleep** old for repayments IMO. I have worked so hard to clean my credit and in good standing and even have a Cap One credit card now

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

CramEiko — Fri, 23 Aug 2019 21:43:02 GMT

From what I understand, though your debt is more than 10 years old, the bank still can come after you for what you owe. They shouldn't be able to post anything on your credit after 10 years. Perhaps somone else can chime in with better information.

Good Luck!

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

Brian_Earl_Spilner — Fri, 23 Aug 2019 23:06:28 GMT

They can't sue you if it's past your statute of limitations, but you still owe them the money and they have the right to attempt to collect on it. They can do so for the rest of your life, if they want. And if they decide to sell the debt, the agency that buys it can report it on your credit. They just can't sue you.

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

Creditaddict — Sat, 24 Aug 2019 01:41:15 GMT

If they call you again, ask them if they are going to force you to send cease and desist or if they will take your request over the phone to never contact you by phone again... If it doesn't sound like they will or if you get called again or just want to make it paper trail, ask the person calling where you should send such a letter... They legally have to provide it to you. Send it certified.

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

Anonymous — Sat, 24 Aug 2019 23:26:14 GMT

If they had a deffiency judgement then they could go against you and win. Otherwise in some states to try collect requires huge disclaimer about it is past the statue. Most of the law is determined by what state you live in and and for how long

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

DaveInAZ — Sun, 25 Aug 2019 19:19:44 GMT

@nastalgia wrote:
Hoping to get some advice on this issue if anyone has experienced this before.
So I bought a used car back in 2007 financed through Cap One with a high interest rate just before the recession. I felt behind my monthly payments after almost 2 years and the car got repossessed in 2009. Car was auctioned off and the reminder of the bill was sent to collections which was taken off my credit after 7 years or so.
Last week a received a letter stating I have upcoming payments with Cap One Auto finance with an account number and was stunned thinking their breach got my info exposed for hackers. So I called and the person on the phone after verification states its my old loan from 2007 and I owe them. After a brief argument with them I simply just hanged up.
My question is how can get them to not ever try to contact me or try to send me back into collections or even attempt to sue/garnish my wages? This loan is too **bleep** old for repayments IMO. I have worked so hard to clean my credit and in good standing and even have a Cap One credit card now

Are you sure it's Capital One who sent you the letter and is who you talked to? It's extremely unlikely Capital One would still try collect a 10-12 year old debt, and you said that after you car was sold off at auction the account went to collections - that's when Capital One most likely sold off the debt. It's most likely a junk debt buyer who recently bought the debt from another junk debt buyer. They can try to collect all they want but it's way past statute of limitations so there is no legal way they can collect, they can only hope you foolishly offer to settle. If they call or write you again tell them to never contact you again.

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

nastalgia — Mon, 26 Aug 2019 16:26:34 GMT

@DaveInAZ wrote:
@nastalgia wrote:
Hoping to get some advice on this issue if anyone has experienced this before.
So I bought a used car back in 2007 financed through Cap One with a high interest rate just before the recession. I felt behind my monthly payments after almost 2 years and the car got repossessed in 2009. Car was auctioned off and the reminder of the bill was sent to collections which was taken off my credit after 7 years or so.
Last week a received a letter stating I have upcoming payments with Cap One Auto finance with an account number and was stunned thinking their breach got my info exposed for hackers. So I called and the person on the phone after verification states its my old loan from 2007 and I owe them. After a brief argument with them I simply just hanged up.
My question is how can get them to not ever try to contact me or try to send me back into collections or even attempt to sue/garnish my wages? This loan is too **bleep** old for repayments IMO. I have worked so hard to clean my credit and in good standing and even have a Cap One credit card now
Are you sure it's Capital One who sent you the letter and is who you talked to? It's extremely unlikely Capital One would still try collect a 10-12 year old debt, and you said that after you car was sold off at auction the account went to collections - that's when Capital One most likely sold off the debt. It's most likely a junk debt buyer who recently bought the debt from another junk debt buyer. They can try to collect all they want but it's way past statute of limitations so there is no legal way they can collect, they can only hope you foolishly offer to settle. If they call or write you again tell them to never contact you again.

Well it was a COAF letter head but with a different number from their main line and I was even surprised it was answered by a live person in such a short amount of time. I had called thier fraud hotline and the agent was able to locate said same loan account number but couldn't tell the amount or how long it been opened and any detail so he transfered me to their auto finance line that was closed because it was past business hours. I'm just going to ignore it for now and I went ahead and froze all my credit files so no one can do soft pulls on it anytime they feel like, its had so much soft inquires within the last 5 months I'm beginning to be conserned. Thanks for taking the time to give some pointers.

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

GApeachy — Mon, 26 Aug 2019 16:38:37 GMT

@Brian_Earl_Spilner wrote:
They can't sue you if it's past your statute of limitations, but you still owe them the money and they have the right to attempt to collect on it. They can do so for the rest of your life, if they want. And if they decide to sell the debt, the agency that buys it can report it on your credit. They just can't sue you.

So any of us that had a CO, fell off the report after sol, 7 or so years after dofd.....it can all go back on again?

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

Brian_Earl_Spilner — Mon, 26 Aug 2019 22:01:58 GMT

@Brian_Earl_Spilner wrote:
@GApeachy wrote:
@Brian_Earl_Spilner wrote:
They can't sue you if it's past your statute of limitations, but you still owe them the money and they have the right to attempt to collect on it. They can do so for the rest of your life, if they want. And if they decide to sell the debt, the agency that buys it can report it on your credit. They just can't sue you.
So any of us that had a CO, fell off the report after sol, 7 or so years after dofd.....it can all go back on again?

Sorry, I should have been more clear, two thoughts mixed up. If you're past the statute of limitations, they can't sue you, nobody can. That doesn't mean they can't try to collect on it or sell it. If they sell it, it can pop back up on your reports. If you're past 7.5 years, it needs to be removed from your reports. New debt buyers can report it, but it's usually illegal because of the 7.5 year limit. It could be a simple mistake, but some companies will throw it back on and re-age it to force you to pay. It just needs to be disputed and proof of age shown. Regardless of reporting, the debt can be collected on/sold for as long as it's owed.

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

GApeachy — Mon, 26 Aug 2019 22:13:15 GMT

Okay, thanks Brian....at first, u kinda scared the poot out of me

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

DaveInAZ — Mon, 26 Aug 2019 23:52:24 GMT

@nastalgia wrote:
Well it was a COAF letter head but with a different number from their main line and I was even surprised it was answered by a live person in such a short amount of time. I had called thier fraud hotline and the agent was able to locate said same loan account number but couldn't tell the amount or how long it been opened and any detail so he transfered me to their auto finance line that was closed because it was past business hours. I'm just going to ignore it for now and I went ahead and froze all my credit files so no one can do soft pulls on it anytime they feel like, its had so much soft inquires within the last 5 months I'm beginning to be conserned. Thanks for taking the time to give some pointers.

The COAF was probably fake/copied, sure sounds like a junk debt collector and not Cap One, especially with all the soft inquiiries - they're looking to see if you have good credit now, a better target to try to scare into paying. Unfortunately freezing your credit reports won't stop them - companies that have a current account or relationship with you, and collection agencies acting on behalf of these companies are exempt from credit freezes.

Re: HELP!! Capital One trying to revive a 12 year old Autoloan

Anonymous — Tue, 27 Aug 2019 00:36:28 GMT

@Brian_Earl_Spilner wrote:
@Brian_Earl_Spilner wrote:
@GApeachy wrote:
@Brian_Earl_Spilner wrote:
They can't sue you if it's past your statute of limitations, but you still owe them the money and they have the right to attempt to collect on it. They can do so for the rest of your life, if they want. And if they decide to sell the debt, the agency that buys it can report it on your credit. They just can't sue you.
So any of us that had a CO, fell off the report after sol, 7 or so years after dofd.....it can all go back on again?

Sorry, I should have been more clear, two thoughts mixed up. If you're past the statute of limitations, they can't sue you, nobody can. That doesn't mean they can't try to collect on it or sell it. If they sell it, it can pop back up on your reports. If you're past 7.5 years, it needs to be removed from your reports. New debt buyers can report it, but it's usually illegal because of the 7.5 year limit. It could be a simple mistake, but some companies will throw it back on and re-age it to force you to pay. It just needs to be disputed and proof of age shown. Regardless of reporting, the debt can be collected on/sold for as long as it's owed.

Reageing is a no no, can you consumer complaint for $1000 plus attorney fees thanks to fdca. To settle a half way decent FDCA complaint you will get between $600 and $1,000 PLUS your attorney fees. If you have a consumer attoney the other side usually will settle quickly because they have to pay your attorney fees if they loose and if it goes to court this be $10,000 to $20,000 in just attorney fees.