Speedy Cash/AD ASTRA RECOVERY SERVICES & Statute

[Anonymous]

I am hoping someone can help me find the best path to clear this from my CR and stop AD ASTRA RECOVERY SERVICES from harassing me and my family.

Open Account #1: Balance $396

Original Creditor: 12 SPEEDYCASH COM 152 MS

Opened Date: Oct 20, 2011

Last Reported: Oct 01, 2016

Speedy is using Ad Astra for Collections.

1. I am confused about the statue of limitations in MS and if they apply since the loan originated online. I;ve pasted the statute below. If this is accurate, would that mean speedy/astra cannot attempt to collect on this debt any more based on its age?

2. I am not sure if Ad Astra's calls answered by my employer may have restarted the clock? Does that even apply with a loan of this age?

3.I cannot afford a payoff/settlement in exchange for clearing this from my report right now. What do you suggest?

Statutes of Limitation in Mississippi

Injury to Person 3 yrs. Mississippi Code 15-1-35

Trespass - Collection of Rents - Contracts Oral: 3 yrs.; unwritten contract based on employment: 1 yr. Mississippi Code 15-1-29

Collection of Debt on Account 3 yrs. Mississippi Code 15-1-29

[Anonymous]

anyone?

[anjel4]

they're easy to deal with. they do pay for delete.

[Anonymous]

I can vouch for a PFD with them they'll stay on your report for the full 7 years. Mine was past that statute by a month but still had years until it would be removed I'd just call and ask for a pay for deletion. The statute of limitations is only how long they can sue you not how long they remain on your report.

All you have to say is that you noticed them on your CR and are trying to clean up your credit if and say if you can pay in full that day would they be able to remove it from your report.

[Anonymous]

are they open to PFD for an amount less than shown? i'd have to save up to pay in full. guess i'll have to wait a few months.

[Anonymous]

If u want it deleted you need to pay in full otherwise they may settle but they won't delete so that's pointless

[Anonymous]

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@Anonymous wrote:

I am hoping someone can help me find the best path to clear this from my CR and stop AD ASTRA RECOVERY SERVICES from harassing me and my family.

Open Account #1: Balance $396

Original Creditor: 12 SPEEDYCASH COM 152 MS

Opened Date: Oct 20, 2011

Last Reported: Oct 01, 2016

Speedy is using Ad Astra for Collections.

1. I am confused about the statue of limitations in MS and if they apply since the loan originated online. I;ve pasted the statute below. If this is accurate, would that mean speedy/astra cannot attempt to collect on this debt any more based on its age? No, it means if they sue you, you can claim an SOL defense and they cannot get a judgment against you. They can still try to collect in all but one or two states where expiration of SOL legally discharges the debt.

2. I am not sure if Ad Astra's calls answered by my employer may have restarted the clock? Does that even apply with a loan of this age? No action on the part of Ad Astra can possibly "restart the clock". The only thing that can do that is if you were to make an agreement to repay it, and then default on the agreement. Some dozen or so states require such agreements to be in writing and signed by the debtor before a new SOL date can be established.

3.I cannot afford a payoff/settlement in exchange for clearing this from my report right now. What do you suggest? Send them a cease communication letter. Google it for proper format and legal cites to include.

Statutes of Limitation in Mississippi

Injury to Person 3 yrs. Mississippi Code 15-1-35

Trespass - Collection of Rents - Contracts Oral: 3 yrs.; unwritten contract based on employment: 1 yr. Mississippi Code 15-1-29

Collection of Debt on Account 3 yrs. Mississippi Code 15-1-29

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[Anonymous]

I will have to initiate a payment plan. I also have 2 charge offs from CO that are in collections with Portfolio Recovery. They send settlement offers, but I can't pay in full. I am hoping they are agreeable about payment plans as well. $50/m. I'd hate to take my entire xmas bonus to pay them off when I could be making an extra payment on my car note and insurance. 

Just get overwhelmed when I look at my report. 

[Anonymous]

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@Anonymous wrote:

I will have to initiate a payment plan. I also have 2 charge offs from CO that are in collections with Portfolio Recovery. They send settlement offers, but I can't pay in full. I am hoping they are agreeable about payment plans as well. $50/m. I'd hate to take my entire xmas bonus to pay them off when I could be making an extra payment on my car note and insurance. 

Just get overwhelmed when I look at my report. 

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Just be VERY careful in establishing such payment plans. Be absolutely sure you can follow through, because if you miss one payment to them, you will reset the SOL and they can jump on you with both feet.

I would not establish multiple repayment plans at the same time, I would suggest starting with the smallest item, pay it as quickly as possible, and work your way up to the largest.

[Anonymous]

Payment plans often will not get you a PFD so be careful because even if you pay something off it will still report to your credit reports and will not improve your FICO 8 score. Only a PFD will have a positive impact.