Hi All, I am new to this forum and am looking for any help I can get. Long story here like others that I have seen. Back in the mid 90s I was going through many changes in my life and I really got messed up with terrible credit issues. I did a very foolish thing and after I maxed out of credit in my name I used my wife at the time name to obtain credit, yes I was very wrong to do that and have spend the last 12 years working very hard to be a much better person. In our divorce agreement I accepted full responsibility to pay off these debts. One simply was put in my name and I have sense paid it off in full. However the other would not let that happen. I made arrangements to make monthly payments and I kept current to-the agreed amount from 98 to 2004 when they sold the debt and they changed the amount they wanted 4 fold. I offered to continue to pay and ended up in a huge phone fight with a rep over this and she had me refuse to pay the increased amount even thought I told them numerous times that I will pay the agreed amount. Well they stopped sending me monthly statements and just recently called my ex out of the blue to try to collect on this.I assured that she is not responsible in any way as it is my debt. I will be meeting with a lawyer soon but my questions are, Is this debt still valid as she has never paid on it only I did as they refused to take it out of her name and contested the validity of the original debt's there any chance to try to work out a deal as the amount has now tripled. I have sure made my share of mistakes however I have really turned my life around in many ways and my credit score is over 820.I really feel very bad for my ex that this issue has repaired its ugly head again. Any thought would be greatly appreciated.
First of all give us a little more information: Who is the collection agency trying to collect on this debt? What state do you live in? When was the last payment? This info will help out a bit. Do you still speak with your ex? If she has a copy of her credit report that would be helpful as well. Normally on Experian it will tell you when the account is scheduled to come off of the credit report.(This does not mean they can't collect on it, but it can no longer be reported!!)
If the debt was in her name, she is still responsible. The fact that you accepted responsibility in the divorce means nothing to the creditor. That's why they wouldn't change it to your name. If she pays it, she can sue you for the amount. The divorce decree splits things between you and your ex, it doesn't change any outside contractual relationships.
Not sure who is trying to collect as only a phone all has been made and the CA would not identify themself in any way. Live in NY Last payment was 2004 however that was by me as she never paid anything on the account as it is just my responsibility and she has disputed it since day one as she should. And after al this I am still in good terms with her.
The original debt was in her name however it was me that set up the account not her.SHe has disputed the validity from day one as she should as it was and is my debt only. The reason why they would not transfer it to my was at the time my credit was horrible. I will pay off the debt however I just wonder what is a fair settlement amount as the CA has just about tripled the amount due.
That's what I mean. They wanted to make sure she was still responsible for the debt, and legally she is. She can dispute it all she wants, it won't change anything. It's in her name, even if you opened it. And it will stay in her name, and it will stay on her credit. The only hope she has is that after it's paid, she might write them a nice letter and explain everything and ask if they'll remove from her report as a courtesy. But there is no requirement for them to do so.
So your real question is whether or not you paying on the debt revives the statute of limitations for her.
Yes that is correct as her attorney from day one sent a letter of validation for this account. I full take responsibility for this and am just wondering if this defense can be used with the CA to help negotiate a more realistic close out of this account.IYO is it a valid debt ?
So her attorney doesn't know the answer to the question, whether or not you paying on the debt revives the statute of limitations for her? Because it seems like she's represented and therefore she's in a position to deal with this that you aren't in, even as you attempt to take complete responsibility for this alleged debt.
So your ex has an attorney who don't know the answers, eh? That's not surprising because statute of limitations can be a situation that has no cut and dried answers. Sometimes the only answer must be determined by a judge and even then the answer might not be the correct answer depending on how the question is posed to the judge. Ask a judge the wrong question and you will get the right answer to the wrong question every time. So, let's do a bit of thinking and see whether there really is a correct answer or not. I'm not a judge so I won't be able to give you the correct answer but here are at least a couple of possible answers. What does FDCPA have to say about the matter? I believe that it says something to the effect that the only way to reset the statute of limitations is for the consumer to pay the creditor in full and the creditor reinstates the account to good standing. Both conditions must exist. Then there is the state statute of limitations to consider. That will vary from state to state and the only way to determine what the state statute of limitations has to say is to research the state statute. That may or may not be easy to do. The variance might depend on the type of debt. Each type of debt has a different statute of limitations. Then the statute of limitations might depend on what the contract itself has to say on the matter if anything. Just about every credit card agreement has a clause that can potentially change the statute of limitations depending on how it is argued and how the argument is presented to the judge. It's no wonder that your ex's attorney can't come up with a definitive answer. That attorney is probably smart enough to know how complicated the question can be and doesn't want to promise something s/he may not be able to deliver on. Of course, you are vitally and personally involved in the outcome and rightfully want to know the answers. On the other hand, you have no choice but to let your ex and her attorney deal with the situation in whatever way they think best. Your only hope is to see if they will let you in on one of their conversations so you can make some suggestions as well. But in the final analysis it is their decision and you can't do anything but hope they will at least let your opinions be heard and considered in the process.
Cap one i had a oc refuse full payment,and to either delete it or return it to good standing it was $207 dollars which is chump change to these chumps.So they screw you every way then can.
Not surprising. Par for the course, as a matter of fact. Sure didn't hurt you to try however and they might have gone along with it. One never knows until they try and there is much tobe gained if they happen to go for it. On average I'd say that most large lenders won't go for it but smaller banks just might.
The FDCPA says it can only be reported for seven years from the date of last delinquency from which it was never brought current. The FDCPA has no jurisdiction over collection SOLs. In some states, even a promise to pay can reset the SOL. In some states a payment can, and in some states neither can. You need to learn your state laws.
Thanks to those that have commented. I have contacted a lawyer to see where I stand and even he tells me this is a difficult case for sure . It sounds like it can go in many different directions. Even he said it can be argued that the original debt is not valid and can be proved by a dispute from 98. Sounds like I might be in for quite a ride and if the CA offers a fair settlement I will send a check ASAP
Hedwig, I'm confused.Debt was CO's, last payment was say a year within SO, last payment being 04L... YOu get sued and decided to settle... You pay something to get them off your back and get the case done with.. So now on your tradeline isn't it going to have the date of last paid ( 09)and settled on the one you just settled with and isn't that going to restart the time line on your credit report??? Woofer
