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Account levied for 20 year old debt

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Account levied for 20 year old debt

A law firm has just levied my account. They advised the debt is for $2562 from 1999 (20 years ago) by first premier bank. They said it’s a charge off on my credit report which is incorrect. This account has never appeared on my credit report as a chargeoff or delinquency. I am protesting the debt with the law firm as that is the only way they will request proof from the original creditor. I called first premier and they advised me that I am on file as an account holder in 2005 but that they delete all info after 5 years so they have zero information about the account. First premier told me if it’s never been on my credit report I can’t be sued for it. I’ve had no contact with this collection agency or any collection agency regarding this account. I’m dumb founded right now. Isn’t there a statute of limitation on this? Please any help would be greatly appreciated.
Message 1 of 11
10 REPLIES 10
Community Leader
Senior Contributor

Re: Account levied for 20 year old debt


@Memm23 wrote:
A law firm has just levied my account. They advised the debt is for $2562 from 1999 (20 years ago) by first premier bank. They said it’s a charge off on my credit report which is incorrect. This account has never appeared on my credit report as a chargeoff or delinquency. I am protesting the debt with the law firm as that is the only way they will request proof from the original creditor. I called first premier and they advised me that I am on file as an account holder in 2005 but that they delete all info after 5 years so they have zero information about the account. First premier told me if it’s never been on my credit report I can’t be sued for it. I’ve had no contact with this collection agency or any collection agency regarding this account. I’m dumb founded right now. Isn’t there a statute of limitation on this? Please any help would be greatly appreciated.

Normally I would think that in order to do that they have to have a judgement filed against you. Judgemebts are good fir 10 years, but in some states that can be renewed over and over Have you did a search on your states website,  that is the first thing I would check. I would think there is possibly a judgement which wouldn't appear on your credit reports by the way.

EXP 753 TU 781 EQ 733
Message 2 of 11
New Member

Re: Account levied for 20 year old debt

Thank you for your reply. No I haven’t checked but I will. I just brought a house in July and not even on my title search did a judgment come back in my name.
Message 3 of 11
Community Leader
Senior Contributor

Re: Account levied for 20 year old debt


@Memm23 wrote:
Thank you for your reply. No I haven’t checked but I will. I just brought a house in July and not even on my title search did a judgment come back in my name.

Hmmmm, yes normally these always show up in title search? I would still check , because if there is no judgment,  I don't think they can legally collect.

EXP 753 TU 781 EQ 733
Message 4 of 11
Valued Contributor

Re: Account levied for 20 year old debt

Did they actually levy your account or are they threatening to? It was my understanding that it takes court documents to levy someone's bank account, which normally means they sued you at some point.
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Message 5 of 11
New Member

Re: Account levied for 20 year old debt

They did something legally because the bank acknowledged it.
Message 6 of 11
New Member

Re: Account levied for 20 year old debt

They actually levied the account. The bank doesn’t know for what or how much they just confirmed there was a hold. The collection agency can’t get the money until I give the bank approval.
Message 7 of 11
Community Leader
Senior Contributor

Re: Account levied for 20 year old debt


@Memm23 wrote:
They actually levied the account. The bank doesn’t know for what or how much they just confirmed there was a hold. The collection agency can’t get the money until I give the bank approval.

Yes I would check the courts. And if they served the bank with court docs, they don't need approval. Been there done that Smiley Sad

EXP 753 TU 781 EQ 733
Message 8 of 11
Valued Contributor

Re: Account levied for 20 year old debt

That is very strange but the only experience I have with bank account levying is my sister has a judgment for a private student loan that randomly levies her bank account. For her, all the money is just taken and she has to fill out paperwork to get some of it back (like garnishments there are rules on how much they can take, at least where she lives).
Maybe someone else has more experience in this area.
Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 9 of 11
Legendary Contributor

Re: Account levied for 20 year old debt

Did the law firm contact you as a debt collector (e.g., such as by sending you a standard dunning notice)?

Do they now own the debt?  Have they reported to any CRA?

Is the debt, in fact, legit?  Do you have any account records showing the history of the debt, including date of first delinquency?

Has anyone ever, to your knowledge, filed a prior civil complaint on the debt?

What did your bank state was the basis for their honoring a request to levy funds from your account?  Any legal documents?

 

As for credit reporting, there is no requirement, federal or state, that a creditor or debt collector must report anything to a CRA as a condition for bringing any legal action.

Message 10 of 11
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