I have a credit card that was closed 2005. Now a collector demands payment of $3500 or else they will take me to court. Usual threats I guess, but I wonder if statute in CA which is 4 yrs, applies? Not sure how to answer. I can't really pay that much to start with as my income at 65 yrs is enough to pay rent and bills applying to living. Not much left for debts but I suppose I could make minimum payments. What's best choice, ignore, answer with letter, wait till they serve me or....?
The SOL has expired, so even if they choose to sue, you have an absolute defense. I would send them a letter just stating that the SOL has expired. You'll probably never hear from them again. Does this old collection still appear on your credit reports?
I would ignore, and above all, DO NOT AGREE TO MAKE ANY PAYMENT OR ADMIT LIABILITY FOR THIS DEBT. Either hang up the phone, or inform the collector that you do not have any recollection of this alleged debt. DO NOT let them convince you to make a so-called "good faith payment"--that is a ploy to reset the SOL so they can sue.
In my own opinion, ignoring opens the door for them to try to call you, and get you to accidentally slip. I prefer sending a validation letter with a notice that it is "inconvenient to communicate me in any way, except for written communications at the above address." If after they provide validation (if with a debt that's 7 years old), then "hey, you know what, I still don't know what you're talking about, but the SOL is only 4 years here, so you're SOL!"
Thanks for the tips, I didn't get any notice of msgs left so I checked today. This CA is pretty tough, they did take me to court over a $10,000 card and under pressure I agreed to pay $50/mo forever. I will reply with SOL expired, see what happens, but they already know they can try to get me.
