topic Re: letter from attorney RE OLD DEBT in Rebuilding Your Credit

letter from attorney

Anonymous — Fri, 25 Jul 2014 20:45:25 GMT

I got a letter from an attorney Edward F Bukaty saying they were retained by cavalry SPV. The letter states its for an SBC Bank Navada / Capital one. If this is the case I had a capital one account over 7 years ago that was charged off. I looked at my credit karma account and there is no collection for this. I do have some collections with Cavalry but for other charge cards that were charged off. Should I send a DV letter? This letter says I have 30 days to notify them if this is not my debt. The other collections with cavalry have open dates 8/15/12 and report date of 7/15/14. It would appear that they are reporting every month. I live in Louisian with a sol of 3 years so they have until 8/15/15 to sue me is this correct? The open date I think is the date they took this account and not the date of last payment. Any advice as to how to handle these two issues.

Re: letter from attorney

Anonymous — Fri, 25 Jul 2014 21:57:12 GMT

Any lawyer can send you a dunning/debt collection letter? Does it have a case#? are you being Sued? Have you pulled your three reports EX/EQ/TU? CreditKarma no good.

SBC Bank/Nevada now capital one has retained a lawyer. did you get served by a service processor at your residence/work place. Do you see a case # anywhere, court/county/Your Name identified.

Sending short DV letter should suffice; do send it. but confirm first you are not in a lawsuit.

Concern yourself only with SBC Bank Nevada / Capital One. leave cavalry out of all this

Re: letter from attorney

Anonymous — Fri, 25 Jul 2014 22:10:59 GMT

I am not being sued. They are wanted me to send a payment or make payment arrangements. Who do I send the DV letter to since I do not have a capital one address or account number. This account is extremly old I believe it to be past the SOL. Why would I not send the letter to the law group or cavalry? I am new and help would be greatly appreciated.

Re: letter from attorney

Anonymous — Fri, 25 Jul 2014 23:28:26 GMT

Request debt validation. Otherwise you can ignore it.

Re: letter from attorney

Anonymous — Sat, 26 Jul 2014 00:01:37 GMT

I was in a similar situation. Here's my thoughts

If you are going to send a DV letter you can also mention that you know the SOL is 3 years and that you will raise that as a defense if sued on an old account. Or you can wait and mention that as a follow-up. They may be unable to validate, and it may prevent them from hoping to sue and have you as 'no-show' with default judgment . Disadvantage: they know they have your attention and you may have encouraged them to look harder at your file

Or you can do nothing. If the amount due is small and your credit report is bleak, they are less likely to actually sue you. If they do sue you they still have to serve you and you can still raise the SOL defense.

There's no way to know for sure what this particular collection agency will do with either option. I would take some time to do some research and then just roll the dice.

Re: letter from attorney

gdale6 — Sat, 26 Jul 2014 00:54:22 GMT

@Anonymous wrote:
I got a letter from an attorney Edward F Bukaty saying they were retained by cavalry SPV. The letter states its for an SBC Bank Navada / Capital one. If this is the case I had a capital one account over 7 years ago that was charged off. I looked at my credit karma account and there is no collection for this. I do have some collections with Cavalry but for other charge cards that were charged off. Should I send a DV letter? This letter says I have 30 days to notify them if this is not my debt. The other collections with cavalry have open dates 8/15/12 and report date of 7/15/14. It would appear that they are reporting every month. I live in Louisian with a sol of 3 years so they have until 8/15/15 to sue me is this correct? The open date I think is the date they took this account and not the date of last payment. Any advice as to how to handle these two issues.

If this debt is older than 7.5 years then it cannot be reported and they cannot use the courts to successfully get a judgment, the SOL is your defense if you are sued. The time alloted to sue and report on your CR begins with the DoFD of the account. The open dates of the collections are not the same as the DoFD(s) that the OCs are reporting thats just the date they got the collection. You need to know what the DoFD was for each of your COed accounts.

Welcome to the board

Re: letter from attorney RE OLD DEBT

Anonymous — Sat, 26 Jul 2014 01:24:24 GMT

I pulled my report and for the one I got a letter on only shows up for Capital one not on Cavelry. It says charged off and the amo unt which matches the letter and purchased by another lender. It is more recent then I had thought. It was opened 5/09 last reported 8/12 1st 30 days 2/2012 follwed by 30 etc and charged off 8/2012. under account history it says 30 days past due 2/2012, 10/2011 60 days 3/2012, 11/2011 90 days 4/2012

Can I still be sued and what should I do at this point?

Re: letter from attorney RE OLD DEBT

gdale6 — Sat, 26 Jul 2014 02:05:26 GMT

@Anonymous wrote:
I pulled my report and for the one I got a letter on only shows up for Capital one not on Cavelry. It says charged off and the amo unt which matches the letter and purchased by another lender. It is more recent then I had thought. It was opened 5/09 last reported 8/12 1st 30 days 2/2012 follwed by 30 etc and charged off 8/2012. under account history it says 30 days past due 2/2012, 10/2011 60 days 3/2012, 11/2011 90 days 4/2012
Can I still be sued and what should I do at this point?

If the letter from the attorney is on the Cap-1 with the DoFD in 02/12 then yes you can still be sued for the full amount due plus any costs and interest. I would be working out a settlement with the attorney to avoid the lawsuit. I wish you the best

Adding: DV the sttorney first and if its validated then work out the settlement.

Re: letter from attorney RE OLD DEBT

Anonymous — Sat, 26 Jul 2014 12:03:01 GMT

Is it showing on all three credit bureaus? Does any of the reports identify Date of first Delinquency? Date of Last Payment?

Your account is transferred/sold. I would call capital one and find out who is it sold to first. It maybe that there is not enough documents available with Capital One regarding the account. I would do nothing with lawyers/JDB/Cavalry other than sending a DV.

You said SOL in Virginia is 3 years. If 2/2012 is the real date of first delinquency then 3/2015 will be when you cannot be sued.

How much is the amount? It is a chargeoff so deletion in any negotiation/settlement is a must. accept nothing less.

Its your decision whether to settle for anything less than deletion or wait it out until March 2015. Very unlikely a PFD will occur, however, you can try.

You r showing 10/2011 in your post. where did that come from? what is that? It matters? Be very certain of the dates shown. Thats how SOL is established.

Read posts here to make sure you understand date of first delinquency/Date of last Activity/Last Payment Date

Re: letter from attorney RE OLD DEBT

Anonymous — Tue, 29 Jul 2014 00:27:58 GMT

10/2011 is the first time it was 30 days late then it was current then late again

Re: letter from attorney RE OLD DEBT

Anonymous — Tue, 29 Jul 2014 05:12:17 GMT

Well, if after 10/2011 any day that you brought it current and then defaulted then the day/month/year that you never paid to bring your account current is the date of first delinquency. We are nearly in august 2014 now. you are out of SOL when you find out your absolute last day of payment beyond which you are pretty sure you never made any further payments whatsoever and you never brought your account current.
It looks like you first made your payment and brought your account current in september 2011 & then some date in the future you never again brought your account current. Account current means you did not make the actual minimum payment required forever. I hope i am right about it here. Any experts might want to chime in.
If at any time you paid above the required minimum then it means you brought your account current.

I would wait it out and not worry unless you are served with legal papers. just make sure by calling the Original creditor sometime in 2015 march and beyond to confirm you are really out of the SOL.

Re: letter from attorney RE OLD DEBT please look at my dates

Anonymous — Wed, 30 Jul 2014 20:17:25 GMT

according to my experian report it says 30 days past due as of 2/2012 last reported 8/2012. It does not show the fall off date. I live in La and SOL is 3 years. Am I still with in SOL or not?

Re: letter from attorney RE OLD DEBT please look at my dates

Anonymous — Thu, 31 Jul 2014 02:17:00 GMT

Dont just look at one Report to determine SOL? look what dates are on each report and determine when exactly are you safe?

if 2/2012 is nearly on every report then 2/2015 is when 3 yrs in LA is up

what more needs 2 be said? what would u like to do?