I heard back from Asset Acceptance and need advice as to what to do next. (They have an old credit card account that has since dropped off of my credit report and the date of last activity was 10/99) Here is the letter: RE: Asset Acceptance LLC Acct #xxxxxxxxxx [credit card name] Account #xxxxxxxxxxxx Dear ****** ******, Thank you for your request for further validation of your above mentioned account. Enclosed, please find an account statement prepared with information provided to us by the prior creditor. Please contact me so that we can work toward resolving this matter. This is an attempt....blah blah blah Sincerely, -Phone: Toll Free Dept Collector Page 2: Debt Validation Prior/Original Creditor: [credit card name] Original Account number: XXXXXXXXXX Name: Kim XXXXXXXX Principle: $763.57 Interest/Feed: $591.86 Balance: $1355.43 Last Transaction Date: 10/04/99 Personal Information: My name, address, social security number. My question is what do I do next? I checked my CRs a couple of weeks ago and this credit card debt is not showing. Since the date of my last transaction (10/99) is so long ago, is it worth it to even respond? I am assuming it is past SOL (I live in FL), so could they get a judgement against me? Part of me thinks I should just pay it off when I get my tax return, but this debt is SO old and I am afraid it would cause it to pop back onto my CR. Any suggestions are appreciated!
They did you a favor by sending you that validation.You now have proof that its past the sol.I would save that validation it may come in handy down the road if someone tries to re-age the date of the last transaction on that account in the future.
I'd send them a cease and desist now. They have confirmed it is past the 7 year reporting period (regardless of whether you paid it today or not), and they would not prevail in a lawsuit. As Peeper's said, hang on to that letter though. Asset was at one time suing quite a bit in Florida - don't know if they still are, so its worth keeping a wary eye out.
Agree. Keep the letter, tell them to pound sand. This is past SOL, there is no reason you should ever pay this now. Let them sue you if they want. But make sure you show up and assert the affirmative defense that it is past SOL.
