Help! Crap One is Coming for mE!

[Anonymous]

Okay, SO I had a cap1 card, when I just turned 18, DOLA is June 2001,  the account is listed as open with a balance of $1519. Original CL was $200. SOL for this account is either NY or Florida.

Yesterday I received a letter from a CA trying to collect on this debt, and offering a settlement of $880.

It says upon payment, my account will be closed and satisfied and a letter of release will be issued.

Now, I'm under the understanding or belief that this item is out of Statute of Limitations.  Should I just ignore this letter and wait for it the item to drop off my report this year?  Should I counter offer with a demand for deletion? WIll that renew the statute of limitations or allow them to re-age the Date of Last Activity?

Thanks for any help, so close to getting these scores up and bad items dropping off soon, I don't wanna make a mistake now!

~CM.

[Anonymous]

I would DV

The original account should Drop in May or June of this year-

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Malaficles wrote:

Okay, SO I had a cap1 card, when I just turned 18, DOLA is June 2001,  the account is listed as open with a balance of $1519. Original CL was $200. SOL for this account is either NY or Florida.

Yesterday I received a letter from a CA trying to collect on this debt, and offering a settlement of $880.

It says upon payment, my account will be closed and satisfied and a letter of release will be issued.

Now, I'm under the understanding or belief that this item is out of Statute of Limitations.  Should I just ignore this letter and wait for it the item to drop off my report this year?  Should I counter offer with a demand for deletion? WIll that renew the statute of limitations or allow them to re-age the Date of Last Activity?

Thanks for any help, so close to getting these scores up and bad items dropping off soon, I don't wanna make a mistake now!

~CM.

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[Anonymous]

Go ahead and DV, but don't bother disputing it with the CRA's, UNLESS it does not fall off by June/July of this year.   Then dispute for being outdated.   Negative info like this can only stay on for 7 years from DOFD, or certainly no later than DOLA.

[Anonymous]

I have read more and more about this happening. I came across an article recently about old debts and SOL. http://www.carreonandassociates.com/articles/sol.htm

This is a link to a page on this topic and may lead you to other information. I cannot copy any portion of the page into this message as it is protected, but check it out before doing anything and see if it is of any help to you. Would like to know how it works out for ya.

I didn't look closely enough at the page to determine who this is, but again might be useful in your research of the issue.

[MsKiwi]

Okay, SO I had a cap1 card, when I just turned 18, DOLA is June 2001,  the account is listed as open with a balance of $1519. Original CL was $200. SOL for this account is either NY or Florida.

Yesterday I received a letter from a CA trying to collect on this debt, and offering a settlement of $880.

It says upon payment, my account will be closed and satisfied and a letter of release will be issued.

Now, I'm under the understanding or belief that this item is out of Statute of Limitations.  Should I just ignore this letter and wait for it the item to drop off my report this year?  Should I counter offer with a demand for deletion? WIll that renew the statute of limitations or allow them to re-age the Date of Last Activity?

**************************8

I would try to make a pymt arrangement with them. I had an account that was a CO and due to fall off and they sued me right before the SOL ran out. Unfortunately I never received any kind of notice or I would have shown up in court to make arrangements. I moved out of state and never knew about this judgement until I pulled myfico report. This was over a $1000 CO. Now this is on my credit for another 10 years. I do plan on trying to get this off my records but I don't think it's going to be easy since I moved 3000 miles away.

[Anonymous]

After reading your post Ms. Kiwi, I can only wonder how did they sue you without serving you papers?

You should have been notified you were being sued, failure to serve you with papers, should make your judgement unenforceable.  How you go about proving this, I have no idea.  They basically have about a week to serve me with papers informing me of a lawsuit.  This must be hand delivered as far as I know, and I plan on being real difficult to find for a week, just in case.  Thanks for all the advice so far, if anyone has any further thoughts, feel free.

[MsKiwi]

After reading your post Ms. Kiwi, I can only wonder how did they sue you without serving you papers?

You should have been notified you were being sued, failure to serve you with papers, should make your judgement unenforceable.  How you go about proving this, I have no idea.  They basically have about a week to serve me with papers informing me of a lawsuit.  This must be hand delivered as far as I know, and I plan on being real difficult to find for a week, just in case.  Thanks for all the advice so far, if anyone has any further thoughts, feel free.

***********************

I have to look into this some more. According to the CR I ran from annualcreditreport.com I have a judgement entered for $1061 dated 4-2007. I had just moved to another state that same month, so I need to have my daughter (who is still in that city) go to the courthouse and pull some ppwk. I never received anything in person or mail or certified mail. I had the money to pay that  at the time and would have gladly paid it as opposed to having a judgement  placed against me. Hopefully I can get this this resolved. Then again I could be totally screwed.