@Remedios wrote:
@Ineed2speed wrote:Hey guys,
I am located in California and need some help with this debt collection letter I just received from Activate Financial, LLC or NCB Management Services INC. It states original creditor was Washington Mutual Bank.
It says Activate Financial LLC is now servicing the credit card account from 9/15/2006 for a little of $2k.
I don't remember this credit card though I may have had defaulted on this awhile back as this was during/after my poor college days.
I understand the statue of limitations for credit card debt is 4 years. This debt is from 2006, which is well past the statue of limitations.
Do I still need to send a Debt Validation letter?
I just noticed on the back of the letter they state:
The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it. If you do not pay the debt, we will not sue you for it, and we will not report it to any credit reporting agency.
But, the beginning of the letter is stating that if if I do not dispute the validity of the debt within 30 days, they will assume the debt is valid.
Please advise.
Thank you
You're past SOL, so you cant be sued. The debt however is not forgiven just because SOL expired. CAs can attempt to collect past that date.
Is this CO still on your reports or did it drop off already?
Actually you can be sued and it would be up to you to challenge the suit using the SOL. SOLs that can be used are the state that the person currently lives in, the one said person was in when the credit contract was issued (if they have left that state) and the state the creditor is incorporated in. They would use which ever is longer There are 2 states in the US that debt actually is dead once SOL is reached and those 2 are Wisconsin and Mississippi.
@Ineed2speed wrote:It is not on my credit report that I can see.
At this point you have several options since if the debt was defaulted on in 06 its long past CRTP and CA SOL. You can offer them a small percentage to settle it once and forever. If this is a new CA attempting to collect you can mail them a DV request within the first 30 days that they have received the collection and the last is you can send them a cease and desist all communications regarding it.
@Remedios wrote:@gdale6 Can consumer initiate contact with CA after cease and desist is requested should they change their mind about paying old debts?
Debtor would first need to send the creditor a written letter that they are rescinding the cease and desist if they wanted to talk with them about it in any way.