1998 debt

[Anonymous]

I presently have excellent credit but have in the last two weeks someone has been phoning me about a cc bill from what she said was 4,000 from 1998 or 99.  She is telling me I must pay immediately or work out an agreement, I do not know what to do.  We are in Texas.

[JoeBJay20]

You don't need to do anything, the SOL in Texas is 4 years, so the debt is way past the SOL and the credit reporting period. 

[Anonymous]

So how do I get them to stop contacting me?

[Anonymous]

I was wondering why there was nothing indicated on my records.  They are also contacting me at work.

Message Edited by starcarole on 06-24-2009 09:18 AM

[Junejer]

Send them a cease and desist letter, if this CC was CO in 1998. They can still try to collect though, there is no SOL on that. If they try to sue you, make sure you show up to court with past SOL as your defense and it will be thrown out, then they can't try to collect anymore.

[Anonymous]

I dont understand, what does CO mean? And there is no SOL on what?  And if I send a Cease and Desist and am sent to court, that is what I take with me?

Thanks!

[llecs]

Common Abbreviations

CO = charge-off

SOL = Statute of limitations

Your state's laws limit the amount of time a creditor can collect on a debt. The clock for SOL starts either on the day you first defaulted or the day you made your last payment. YMMV based on state law.

If you are past SOL, they can't sue and win if you defend yourself. They can't report because it is past CRTP.

IMO, I'd ignore any calls or letters.

[medicgrrl]

---

@Anonymous wrote:

I dont understand, what does CO mean? And there is no SOL on what?  And if I send a Cease and Desist and am sent to court, that is what I take with me?

Thanks!

---

There is no SOL on how long a CA can attempt to collect a debt.  Although the law says they can only use legal means for so many years (ie the SOL to sue you) and the FCRA says they can only report it to the CRA for 7 - 71/2 years, the OC or CA can attempt to collect on the debt forever.  There is no law that says they can no longer try to collect.  If for some reason they were to try and sue you, your defense is that it is past the SOL and therefore they can't use legal means to collect on the debt.  The C&D letter only stops them from calling you and attempting to collect.  They are trying to scare you into paying the debt off.  Send them a letter and tell them to quit contacting you and anyone you may know.