I was wondering about if you verbally acknowledge or in writing acknowledge that an account is yours does it restart the seven years? I know I have read about this before but could not find it when I did a search. So basically I am asking if anyone knows all the things that can restart the 7yr term and also the SOL. Casper72 Thank you for your time!!!!
I sured as hell wouldn't put anything in writting. That may well cause problems. Verbal. I dunno? That would seem to boil down to one persons word against anothers. Seems like that instance it would be easy to deny and tough for them to prove.
If you reaffirm the debt it would not restart the 7 years for reporting but would restart the SOL to collect the debt. This is my understanding of it. Tuit
Well here is a little more information on the subject. I have a credit card debt that has been delinquent (spelling?) now for two years and since it is so recent I would like to approach this company about bringing my account up to date. But I am not able to pay the whole thing or even half at this time. What I would like to do is see if they would reopen my account with them and send me a bill each month until I can get it paid off. I guess I am hoping that this letter or email will fall into the hands of someone that will have a little sympathy. LOL Like that would ever happen. But anyways that is what I would like to do. I dont really care about if I would be able to charge on the card I just want them to bring my account up to date so that maybe it will help my scores!! Thank you for your time!!
Sorry I left some information out of the last post. The SOL in my state is three years so they have one more year to collect but I would really like to get my reports looking better. I think this way it might help. Does anyone think this would work? Could I ask them to take off late payment fees and over limit fees? Do you think they would to try to work with someone? Half the bill is in late payment and over limit fees!!! Once again thank you for your time!!!! Casper72
It never hurts to ask, but I suppose alot depends on the company or even the representive you are dealing with (some are kinder than others) also the amount of the debt and the amount you are able to repay each month. Others have had success getting late pays removed and accounts reopened so it is possible. I am assuming the account is still with the original creditor. Tuit
Be careful what you tell a collector over the telephone. In many states it's legal to be recorded without your knowledge.
