I've just been contacted about a debt from Macy's from 1989, the collection agency said they are the third one, it hasn't been on my credit report for 8 years and the last posting was 1992. I thought after 7 years they write it off or are no longer able to seek collecting it. Am I wrong? Am I still liable? Thank You for your quick response! From Calif.
RE: 11 Year old debt still col The debts expired both legally (statute to collect) and from your credit reports (7 year max on reporting this type of debt). If they call again, tell them the SOL to collect and report is up and your not interested. If they try to place it on your credit reports then you will need to advice them that the reporting time has past. Do not mention anything about your credit reports to the collector just in case, you don't want to give him any ideas on how to really harrass you. Just check them yourself to be sure they have not pulled a fast one by trying to report it. Kristi CarreonandAssociates.com Stacy wrote: ------------------------------- I've just been contacted about a debt from Macy's from 1989, the collection agency said they are the third one, it hasn't been on my credit report for 8 years and the last posting was 1992. I thought after 7 years they write it off or are no longer able to seek collecting it. Am I wrong? Am I still liable? Thank You for your quick response! From Calif.
RE: 11 Year old debt still col You are "morally" obligated to the debt forever, and they can seek to collect forever, BUT the Statute of Limitation has passed (meaning they can't sue and win), and it cannot be posted on your credit report. Tell them that the SOL has passed, they can't post it on your credit report, and get their address to send them a "cease & desist" letter to prohibit any further contact except to inform you of a pending legal action. In this case, they have no recourse. This is dead in the water, and you have no need to be concerned.
RE: 11 Year old debt still col Thank you both,I also heard from a lawyer in Calif. that "a dept based on a written cotract is not collectable after 4 years has passed from the breach"
