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Paying OC who still owns account

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Valued Member

Re: Paying OC who still owns account



guiness56 wrote:
As I am not an attorney, I would suggest you contact one in TX. Ask them what the laws are pertaining to SOL. Most of them will answer a question over the phone without charge.

Not remembering having the card makes a big difference. Send them a DV letter. You can search on here for one. Type your name but do not sign it. Send it CMRRR to create a paper trail. It puts the burden of proof on them to prove you owe the debt.

Message Edited by guiness56 on 07-27-2008 11:05 AM

I thought you couldnt send the OC a DV letter? Correct me if Im wrong....

EX 572 EQ 601 TU 583 Jul 11 08
EX 608 EQ 604 TU 610 Aug 3 08
EX 608 EQ 607 TU 616 9/1/08
Message 11 of 17
Epic Contributor

Re: Paying OC who still owns account

Message 12 of 17
Epic Contributor

Re: Paying OC who still owns account

Have you disputed it with the CRA yet? Do that, and if they verify it, send the OC this letter:



To Whom It May Concern:

I recently pulled my credit report from Experian, Equifax and TransUnion and noticed this account was listed on at least one of my reports as a collection/charge off. I immediately disputed this information and the results of the investigation came back as "verified".

Since I have disputed the account with the credit bureaus, and you have verified them, I would like to see what sort of records you have for this alleged account. Under the new FACTA laws, you are required to conduct an investigation on this account, and I am now requesting it.

In order to clear up this matter, I would like to see:

Complete account history, including, all statements, records of all activity, payments, collection attempts, and any charges added for collection activity; In short, any and all documentation pertaining to this account

If you don't respond with the results of the investigation (as is required per the FCRA), I will assume you have no documentation and therefore you were negligent in providing the credit bureaus with accurate information. At this point, you would also be in violation of the FCRA merely for not responding within the 30-day period.
Message 13 of 17
Valued Member

Re: Paying OC who still owns account

Guiness, thanks so much..... I will, but IM scared! I have read so many bad things about Crap One! They are hard to deal with. But, I need to face the music, because this baddie is killing my scores.

EX 572 EQ 601 TU 583 Jul 11 08
EX 608 EQ 604 TU 610 Aug 3 08
EX 608 EQ 607 TU 616 9/1/08
Message 14 of 17
Senior Contributor

Re: Paying OC who still owns account

True, however, as I understand it, case law has stated that it only applies to domestic creditors.

Section 16.063 was written and intended to protect domestic creditors from individuals who enter Texas, contract a debt, depart, and then default on the debt. Wyatt v. Lowrance, 900 S.W.2d 360, 362 (Tex. App.--Houston [14th Dist.] 1995, writ denied).

How far this would go in an actual court on it's own merits, I wouldn't know.

FTR, I didn't mean to argue with you ... I hadn't read that far down, assuming that if there were any provisions that toll the debt, it would be in the section dealing with debt itself -- not in general provisions.

It might be helpful to add for others in TX that NONE of the "SoL by state" listings on other sites mention ANY of this. Texas debtors beware.

In fact, it also might be pertinent to add that many people here, including those in the financial industry, believe TX to be VERY debt-friendly. :/

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Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Message 15 of 17
Epic Contributor

Re: Paying OC who still owns account

Wonderin, I am not an attorney and do not profess to be one. If I misread the code, excuse me. I try not to post things that I do not know anything about or can not back up. You seem to be so much more informed in the laws than myself.

As I stated earlier, the only one who can answer the question is a real attorney from TX.
Message 16 of 17
Senior Contributor

Re: Paying OC who still owns account

Guiness, other than a few courses on the basics (had to ... kept getting the "el shafto" from clients), I'm about as far from a lawyer as an artist can be!

I think you may have taken my post the wrong way, though ...

When I pointed out that the average SoL website omits the tolling provision, I was NOT saying it to cast doubt on your cite OR interpretation. My intention was to advise others to do their homework. Meaning, just because a site DOESN'T mention the possibility of a provision that tolls, DOESN'T mean it doesn't exist.

I think oodles of people (ahem ... myself included, I'm sure) give WAY too much credence to the average website that SAYS it has all the answers. And my questioning was more to do with THAT rather than your post.

(Yeesh ... I hope that makes sense -- just refereed a heckuva argument with my two kids, so .... who knows??)

Anywho, you were spot on. And I think the OP would be best served by spending 5 minutes on the phone with an atty.

EDITED for crappy spelling

Message Edited by Wonderin on 07-27-2008 01:46 PM

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Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Message 17 of 17
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