SIGNED UP FOR JEFFERSON CAPITAL FRESH START PROGRAM BEFORE FINDING OUT DEBT WAS REMOVED!!!HELP

[Anonymous]

HELLO TO ALL AND I AM NEW TO THIS SITE. I AM REBUILDING MY CREDIT. BEFORE I CHECKED IT I SIGNED UP FOR THE FRESH START PROGRAM FOR A OLD ACC WITH FIRST NATIONAL CONS BANK. AMT OWED 424.00 I MADE 3 PAYMENTS ALREADY TOTALLING 60.00. RECENTLY I CHECKED MY CREDIT REPORT TO FIND OUT THAT MY CREDIT WAS CLEAN SO THE DEBT WAS REMOVED AND IM NOT SURE WHEN. IM 27 AND OPENED THE ACC WHEN VERY YOUNG. I READ SOMEWHERE ABOUT REAGING AND RESETTING SOL DID I DO THAT TO MYSELF? I HADN'T MADE A PAYMENT IN TWO MONTHS NOW AND THEY CALL QUITE OFTEN STATING I STILL OWE THE DEBT. I DONT HAVE MONEY TO THROW AWAY BUT WILL PAY IT IF YOU GUYS THINK I RESET THIS DEBT BECAUSE I DONT WANT THEM THROWING ANYTHING BAD ON MY REPORT. ANY ADVICE? THANKS

[Anonymous]

That is one of the tatics of these people.  By selling you on the credit card, they essentially restarted your SOL.

It really depends on your state laws.  In most states by making a payment you have restarted the SOL.

If it is not on your report, it means it is beyond the time allowed to be on your report. 

Exactly how old is the debt? 

[Anonymous]

IM NOT SURE BECAUSE LIKE I SAID IT FELL OFF ALREADY AND I DONT HAVE ANY INFORMATION ON THEM. IM WILLING TO PAY BUT IF I DO I DONT WANT THEM REPORTING `ACCOUNT PAID IN FULL OR ANYTHING BUT I KNOW THE DEBT IS OVER 7 YEARS OLD.

[Anonymous]

You might have restarted your SOL but not CRTP!  They can not start reporting to any CRA!

Payment AFTER SoL expires renews SoL ONLY if, at time of payment, circumstances infer the debtor recognized obligation to pay. Partial payment on open account restarts SoL on purchases made within 3 years of payment date, if acknowledgment can be inferred, starts the statute anew as to the full obligation acknowledged, even if all of the charges were not made within the last three years.NC Continued...

Check (up top) state resources.  This might be considered a new account. Call whoever handles it for your state.

Message Edited by HappyDays on 04-16-2009 02:18 PM

[nmorton79]

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@Anonymous wrote:
HELLO TO ALL AND I AM NEW TO THIS SITE. I AM REBUILDING MY CREDIT. BEFORE I CHECKED IT I SIGNED UP FOR THE FRESH START PROGRAM FOR A OLD ACC WITH FIRST NATIONAL CONS BANK. AMT OWED 424.00 I MADE 3 PAYMENTS ALREADY TOTALLING 60.00. RECENTLY I CHECKED MY CREDIT REPORT TO FIND OUT THAT MY CREDIT WAS CLEAN SO THE DEBT WAS REMOVED AND IM NOT SURE WHEN. IM 27 AND OPENED THE ACC WHEN VERY YOUNG. I READ SOMEWHERE ABOUT REAGING AND RESETTING SOL DID I DO THAT TO MYSELF? I HADN'T MADE A PAYMENT IN TWO MONTHS NOW AND THEY CALL QUITE OFTEN STATING I STILL OWE THE DEBT. I DONT HAVE MONEY TO THROW AWAY BUT WILL PAY IT IF YOU GUYS THINK I RESET THIS DEBT BECAUSE I DONT WANT THEM THROWING ANYTHING BAD ON MY REPORT. ANY ADVICE? THANKS

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I had a imagine cc that charged off, and Jefferson offered me the same deal.  Once I accepted, the imagine account fell off all 3 reports.  The balance was $655...they offered to write off $196, and I had to pay $236,and the remaining balance of $223 was transfered to the new card (which started with a limit of $255) once the $236 was paid.  I have since paid the $236, and I'm just about done paying the new card to $0...eligible for CLI after 4th statement.  IMHO, I thought this was a good deal, and if I were you, I would try to call to see if thw agreement can be reinstated.  I think that there may have been an agreement that Jefferson Capital had with the OC for the OC acct be removed from the CR's.

Good luck...I hope you can get the agreement reinstated.

[Anonymous]

When you signed up for the program, did they open you a new CC that the debt was transferred to?

Is this what you have not paid in 2 months?

If so, that CC should/will likely report on your CR and you've likely just added a few late payments to your CR.

While the old debt can't be re-aged(as in be placed back on your report if past CRTP) the new CC can report.