Hi Everyone... I have a couple of questions..... Can OC (Bank Atlantic Bank) collect a debt after SOL? I closed on a house and $3000 when into escrow for an account I had back in 12-97 for $3000.00. Now the OC wants me to pay $6000 which they are adding interest. Can I settle for less since this debt has passed SOL? I wanted to send a settlement letter for $2000? Please help!
1*Can OC (Bank Atlantic Bank) collect a debt after SOL? 2*Can I settle for less since this debt has passed SOL? 3*I wanted to send a settlement letter for $2000? MAYFLOWER | ===================== 1*NO 2*You don't owe them anything so you don't have to settle. 3*I would reduce this to $0.00. THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
LB! In Most states they CAN attempt to collect a debt after SOL, if they sue you it is an affirmative defense.
Re: Re: Can OC collect Debt after sol? He didn't ask if they could sue>He wanted to know if they could collect. Suing and collecting are 2 sifferent matters.
Re: Re: Can OC collect Debt after sol? You are correct but that wasn't what the ship was asking sbout.
Re: Re: Can OC collect Debt after sol? Yes they can TRY to collect. Given the age of the account and the fact that it's past the sol why pay it at all? this is a debt with NO TEETH. They can see if they can intimidate you into paying voluntarily. They can sue you and hope you don't show up for court and thus give them a default judgment... Since it's an OC, just send them a cease and desist letter (certified return receipt) and they have to go away or sue. If they sue you, your affirmative defense is the sol. So either way, you're protected and you'll pay them not one dime. Don't talk with them or attempt to settle. Why would you even bother? What happened to your 3k? still in your atty's escrow account or was it paid to them? if so, why wasn't the debt paid in full way back in 1997? sounds fishy. That makes no sense... they either got payment in full in 1997... or if not, who has your 3K? Either way, I'd pay not one dime towards it. they have no teeth on this one. I'd send them a cease and desist. Don't talk with them. Do it in writing. By the way, is this trade line even still on your credit report? If it went in default in 1996 or 1997 it should be about to drop off. Have they reaged your trade line? If so, you can sue them for Fair Credit Reporting Act violations It's great that you know about the sol.. now take it one step further and stand up for yourself. Something is very off here. Your other option is you could send them 2 letters: 1: ask for an accounting of this supposed debt including the original promissory note and all statements wait 31 days after receipt 2. then send cease and desist...that way you'd have the info the the fcra issue (if there becomes one) as to when the last date of activity was and when the trade line should drop completely. If this trade line is reporting correctly with a last date of activity in 1997.. it's not hurting you at all really. TRUST me. If you pay it now and they illegally reage it, you'll sink your score.
Re: Re: Can OC collect Debt after sol? I agree with Marie. And YES, they can collect past the SOL. All they have to do is get you to agree to pay. Of course, you're too smart to do that, but they CAN collect or attempt to collect. There is nothing illegal about you paying a debt that is past SOL. Just follow Marie's advice and you'll be fine.
