First time poster so I apologize if this question has been answered already. My wife got a letter from a CA/Law Firm claiming she needs to pay the full amount owed on an account or they will turn it over to one of their attorneys, sue so pay immediately.
The account is an old Chase account and it appears was bought by one group and then bought by this latest outfit. Should I send them a DV letter? They have also stated she owes and additional amount in interest that has been tacked on.
Thanks for any insight you can provide!
Starting Score: 580
How old is the debt?
What State do you live?
We live in Idaho. I believe the account was opened in 2005.
You would need to access your credit report to find the date of first deliquency.
If it is 2005, you would be past the statute of limitations for the state of Idaho and cannot be sued : )
As a matter of fact that debt should have aged off by now. It is only allowed to report for 7 years and 180 days from 1st deliquency.
Confirm the DOFD
Thanks! is the SOL from the date of delinquency or from when the account opens?
Date of first delinquency!
I would confirm your SOL for Idaho as I didnt research it well. If its true, I would ask for a Pay for Delete for about 25% of what the debt is worth stating it is past the SOL and the Credit Reporting Time Period.
If they do not accept the PFD start disputing for reporting past the CRTP...
Someone can correct me if I am wrong but this is what I would do.
@guiness56 wrote:Is this still showing on your CR?
What is the DoFD? Because the account was opened in 2005 doesn't mean that is when the DoFD is.
SOL for Idaho is 5 for written contracts and 4 for open ended accounts. It would depend on what CC fall under. Either way, both are beyond suing SOL.
+1 You will need to know the date that it went delinquent to find if it is past the SOL of your state. BTW, it's illegal for them to threaten a law suit against you if the SOL has expired.
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