Help! Fallen off CR just got Letter from OC!

[Anonymous]

Ok, Northern Leasing has been after me since 99 when I had a credit card machine and I closed my shop down.  Years went by and just about 2 months ago it fell off my credit report after being on it for 7 years. Last July the pulled inquiry from 2 CR's that are still on the inquiry's.

OA was $1497 (close to that)

Settlement letter was 1/2 of that. I never answered.

In Feb. it fell off report.

Yesterday, I went to the mail, and there it was from Northern Leasing. Balance now is $2457. Almost doubled. I have to respond withing 10 days.

Can the OC do this afterr it was fallen off my report after being on it for 7 years.  If I respond back to them saying the SOL has passed, can they come back and say It's mine and I owe it and it has to be paid.  HOW would YOU do this.  I am really working at cleaning up things.

last month Fico was 440 now its 476  445 489  My TC scores are  587, 529, 627.  I am really trying and can't have anything negative haunting me after already fallen off.

Thanks.

Message Edited by wantingbettercredit on 03-09-2008 05:25 AM

[llecs]

They can still try to collect even if the 7 yrs has passed for CRTP and SOL has passed. They cannot sue you though.

Make sure you haven't made a payment that could have reset your SOL. If you want them off your back, then save and make a settlement offer with the OC in a lump sum and get everything in writing.

[Anonymous]

Is this past SOL?

If it is past SOL, there isn't a lot they can do except sell it to a JDB who will try to collect, when they can't they'll sell it to another JDB who'll try to collect and it will just keep going.

Just becareful as to what you do because some things reset SOL and I don't know if SOL can be reset after it is fully past or just while it is running.

[Anonymous]

If I don't pay, can they ever put it on my CR again?  I can say that I will not settle for what they want!

I want to make sure I understand this.

1.  They cannot place it on my CR because of SOL. If they do, I can send a letter to them about the SOL. (am I right?)

2.  I will not sent payment because that will start my SOL over again.

3.  Can they still put inquiries on my report.  They checked like in March 2007 and on 2 reports like in July or so.  If they inquire again and I dispute them with the CRA what would that do?

I can handle the letters etc., I just don't want in on my reports. And I really don't have the funds to pay.

[Anonymous]

wantingbettercredit wrote:

If I don't pay, can they ever put it on my CR again?  I can say that I will not settle for what they want!

I want to make sure I understand this.

1.  They cannot place it on my CR because of SOL. If they do, I can send a letter to them about the SOL. (am I right?)

Yes/no. They can not place it on your CR again because of reporting SOL not legal SOL. Reporting SOL, referred to as CRTP, can never be reset, goes from DOFD, and once it is up, it is up. Legal SOL is what is used to determine if you can legally be sued or not. It CAN be reset during certain circumstances. Legal SOL has nothing to do with them reporting on your CR.

2.  I will not sent payment because that will start my SOL over again.

If SOL has fully expired..........I don't know if it can be reset. That would be a question for the ones much smarter than me. IF SOL has NOT expired, yes payment will reset, I think GA is a litte different on that, I think just sending payment doesn't--only if you include a note or something. Not sure on that. But most generally, a payment resets SOL.

3.  Can they still put inquiries on my report.  They checked like in March 2007 and on 2 reports like in July or so.  If they inquire again and I dispute them with the CRA what would that do?

The OC does have PP. However, I don't know if that PP ends when the CRTP does or not.

I can handle the letters etc., I just don't want in on my reports. And I really don't have the funds to pay.

If past CRTP, it wont be on reports no more. Even if they sell, they can't place on your reports without illegally re-aging it.

You said the letter said you must respond within 10 days..........is it a settlement offer only available for 10 days or what?

Does a CA have this yet?

Message Edited by sidewinder on 03-09-2008 05:42 AM

[Anonymous]

It was on my report for 7 years and just fell off a month or 2 ago.  So, I would say the SOL has passed.  Throughout those 7 years, they did not sell, just collecting on their own.  If they do sell, and it starts a chain of selling to all the different CA out there, then I will send a letter to the CRA stating that it is past SOL and they can't do that.  Or, I may have to just Dispute with the CRA and the CA's.

Whichever comes first.  I'll take that bridge when it comes.  Right now just want to make sure if they do place it on my CR again, can I send them a letter stating the SOL has passed and they are violating code ???? and it needs to be removed withing a certain date.

I know its my own fault, but I suffered the consequences and am really trying hard, just don't have funds.

[llecs]

They can't put it on your report ever again. If they do you can dispute with the correlating CRA. Don't dispute on-line, but do it through the mail and include an old collection notice that is older than 7 yrs old to show DOFD was past 7 yrs.

SOL is not CRTP (yrs) and vice versa. Two different things. They can't place it on your reports because the CRTP expired due to the 7 yrs.

A payment will reset. If you did want to pay, pay in a lump and get everything in writing.

FCRA states that collection activity is included as permissible purpose within inquiries. If it is past SOL and CRTP, then, IMO, it is not PP. Back in July, you were within CRTP.

EDIT: YOU GUYS TYPE FASTER THAN ME!

Message Edited by llecs on 03-09-2008 08:47 AM

[Anonymous]

---

wantingbettercredit wrote:

It was on my report for 7 years and just fell off a month or 2 ago.  So, I would say the SOL has passed. 

Not neccesarily. Depends on where it falls and what SOL for your state is. Certain transactions have 10 year SOL in my state, meaning I can still be sued even after they are off my reports.

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

Throughout those 7 years, they did not sell, just collecting on their own.  If they do sell, and it starts a chain of selling to all the different CA out there, then I will send a letter to the CRA stating that it is past SOL and they can't do that.  Or, I may have to just Dispute with the CRA and the CA's.

Whichever comes first.  I'll take that bridge when it comes.  Right now just want to make sure if they do place it on my CR again, can I send them a letter stating the SOL has passed and they are violating code ???? and it needs to be removed withing a certain date.

I know its my own fault, but I suffered the consequences and am really trying hard, just don't have funds.

---

If they sell it and it appears on your CR, there is letters to send to the CA/CRA due to illegal re-aging.

Have a read--

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=8713

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2175

Sorry llecs!

Message Edited by sidewinder on 03-09-2008 05:51 AM

[Anonymous]

Great. Thanks for all your help once again. Single parent now knows paying on time, paying down Credit cards is a must! Takes time, but I have seen the changes just in a month.

[Anonymous]

This was not a settlement offer.  I got a settlement offer like 1 month before it was going to fall off of my report and the letter said they would settle for $700.  Original amount was like around $1400 or so.

The amount on this letter shows like $2400 now. 

This is the OC.  They have never had a CA working for them trying to collect. Only themselves.