When does the time to collect a debt expire

[Dsykes]

I received a call today from a gentleman from Watson and Reynolds associates. It's a law/mediation firm. They tell me that I have a debt with a credit card company called Orchard bank. This account was supposedly started in 2008, and was defaulted on June 6, 2014. I have no recognition of this date. I have worked really hard after a divorce to get my credit score up and it's in a good shape. I am in the state of Kentucky and for me that seems as if they wouldn't be able to pursue me because it's over the 10 years just barely but over. He states that when it goes to collections which was in October 2019, which would mean they can still sue me for it which he says they plan on it. I am 60 years old, unemployed, no income, my spouse and I are separated. Just an example here what if you have a little bit of money in a money market account can they sue you and take the amount out of that account? I'm trying to struggle and find if that is my debt and I can't find anything and all my paperwork showing I ever had it if I owe it, I'll pay it but I don't think I do. Please help

[JoeRockhead]

The clock for the collection of a debt starts the date the account first went into default (DOFD) that led to the Charge Off status. If your account first went into default in 2014 and was never brought back current.... and subsequently was charged off, the debt would be time-barred from being reported. Depending on what the SOL is where your live, it might also be legally non-collectible. That doesn't mean it goes away, or that they can't still try to get you to pay... 

[Dsykes]

Thank you for replying.  I live in Kentucky and the time limit is 10 years. If the date ( June 2014) he gave me as default is correct then it would be past collection. However he told me that it didn't start until it was in collections in November 2019. I have never heard of a company not collecting on a debt for five years. My issue with this is I don't remember this. I've never received anything about it. Of course they say they've mailed it and whatever they had my phone number, but they haven't tried to contact me till now, so I'm really unsure about it. It's a company called Watson and Reynolds associates. Their website says they are mediation law firm. if I owe this debt I would pay it. I would've paid it but I've never seen it on my credit report never heard from them. I've looked through all my paperwork and I don't have any statements from them so I don't know what the deal is, but it has me worried because It's always the little guy that gets the short end of the stick. 

[Jnbmom]

As @JoeRockhead  stated if this account defaulted in June 2014, they can't report it or sue you, if they try to sue you have your defense as the account defaulted in June 2014. I think they are fishing and hope you bite, don't and advise them you know the law and to take a hike .

Orchard bank was a subprime credit card from HSBC 

[GZG]

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@Dsykes wrote:

Thank you for replying.  I live in Kentucky and the time limit is 10 years. If the date ( June 2014) he gave me as default is correct then it would be past collection. However he told me that it didn't start until it was in collections in November 2019. I have never heard of a company not collecting on a debt for five years. My issue with this is I don't remember this. I've never received anything about it. Of course they say they've mailed it and whatever they had my phone number, but they haven't tried to contact me till now, so I'm really unsure about it. It's a company called Watson and Reynolds associates. Their website says they are mediation law firm. if I owe this debt I would pay it. I would've paid it but I've never seen it on my credit report never heard from them. I've looked through all my paperwork and I don't have any statements from them so I don't know what the deal is, but it has me worried because It's always the little guy that gets the short end of the stick. 

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unless you've made a payment or entered into an agreement to make a payment on the debt to reset the SOL on the debt, it is very likely that the debt is well beyond SOL and you have a defense that the debt cannot be collected if you are sued.

it does not matter when they started their collection for both credit reporting and SOL purposes unless you've made a payment on the debt or made an agreement to pay the debt which can reset the SOL timer.

simply send them a cease and desist and this should go away 

[FicoMike0]

@JoeRockhead is one of the experts, I'm pretty sure he's correct. It's not when they get around to trying to collect, it's when it went into default.

I'd make it a two part question.

1. Is it your debt? If not, that's it.
2. Can they still sue you? I have read sometimes they can bring suit, you just have to show up and invoke the sol to get it dismissed. If you are served, make sure you respond. If there's a court date, show up.

[Jnbmom]

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@FicoMike0 wrote:

@JoeRockhead is one of the experts, I'm pretty sure he's correct. It's not when they get around to trying to collect, it's when it went into default.

I'd make it a two part question.

1. Is it your debt? If not, that's it.
2. Can they still sue you? I have read sometimes they can bring suit, you just have to show up and invoke the sol to get it dismissed. If you are served, make sure you respond. If there's a court date, show up.

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I dont believe there is any court date or summons, pretty sure they are fishing and just trying to scare /trick OP into paying . It's pretty common with junk debt buyers 

[JoeRockhead]

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@Jnbmom wrote:

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@FicoMike0 wrote:

@JoeRockhead is one of the experts, I'm pretty sure he's correct. It's not when they get around to trying to collect, it's when it went into default.

I'd make it a two part question.

1. Is it your debt? If not, that's it.
2. Can they still sue you? I have read sometimes they can bring suit, you just have to show up and invoke the sol to get it dismissed. If you are served, make sure you respond. If there's a court date, show up.

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I dont believe there is any court date or summons, pretty sure they are fishing and just trying to scare /trick OP into paying . It's pretty common with junk debt buyers 

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^^^^ this... they are fishing for dollars. They have no legal recourse to collect the debt at this point. 

The only thing you should respond to is a summons if you were to get one. Otherwise, either ignore them, or send them a cease and desist letter to leave you alone. 

[Dsykes]

Thank you all so very much! I told him I was going to speak with my attorney, which I am. He's my youngest brothers best friend. So he's pretty easy on my pocketbook. I've never even acknowledged this card much less agreed to pay.  

[Tdatb64]

This might help:

https://www.incharge.org/debt-relief/credit-counseling/bad-credit/how-to-dispute-a-debt-with-credito...