topic Re: Old bills in Rebuilding Your Credit

Old bills

Anonymous — Wed, 10 Sep 2008 02:22:25 GMT

I had an auto repossed in 1998. I am now getting a collection notice from a collection agency. Since this bill id over 9 years old, can they add a negative report to my credit report. If so, what can I do to help. I would appreciate any response. Thank you.

Re: Old bills

Anonymous — Wed, 10 Sep 2008 02:27:38 GMT

Obviously, the limitation period is >9 years. Although I'm not quite sure, I assume they can add it to your report.

Re: Old bills

Anonymous — Wed, 10 Sep 2008 02:29:53 GMT

It seems as though the date on the collection is not when it was accrued, but when it went to collections. What should the date be?

Re: Old bills

Anonymous — Wed, 10 Sep 2008 12:07:18 GMT

CRTP is 7-7.5 years from DOFD.

If repo'd 9 years ago, it is past DOFD.

However, legal SOL may be different. Check the link in my signature for that.

Re: Old bills

RobertEG — Wed, 10 Sep 2008 18:58:13 GMT

Hiya, Macnineandfab!

The CA seems to be totally out of line. Both the FCRA dropoff date and your state SOL for suing for the debt appear to have long since expired.

No, they cannot!

No one may post any derog to your CR for any CO or CA that exceeds 7 1/2 years from the first date of the first delinquency in the chain that led up ot the CO of CA. Being 10 years after the date of first dilinquency (DOFD, if they post anything to your CR, file an immediate dispute with the CRA to have it deleted.

Then consider legal action against the CA for false action under the FDCPA for unfair debt collection practices.

To build your case, if it should come to that, send them am immediate Debt Validation (DV) letter under the FDCPA. asking them to document to you:

1. The date, amount, and name/address of the creditor they are acting in behalf of,

2. Their legal authority to act as an agent of the original creditor (OC), and

3. Documentation of their bonding authority in your state to act as a collection agnecy.

In that letter, also advise them that your state SOL for collection of this debt has long expried (if it has), and that that they should cease and desist from any further communication with you. (I assume that that you have made no prior settlement offers with the OC or CA that may have reset the tolling of your state SOL?)

Do NOT discuss in your DV letter any responsibility for the debt,

Message Edited by RobertEG on 09-10-2008 11:47 AM

Message Edited by RobertEG on 09-10-2008 11:54 AM

Message Edited by RobertEG on 09-10-2008 11:58 AM

Re: Old bills

Anonymous — Wed, 10 Sep 2008 18:50:04 GMT

As sidewind said.....CRTP is 7-7.5 years from DOFD......It can not be reported to the CRAs.

What is your SOL? I hope that you don't live in a state where it is 10 or 15 years!

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8