collection for $8000..HELP!!

Discussion in 'Credit Talk' started by arobinson, May 19, 2001.

  1. arobinson

    arobinson Well-Known Member

    Hello, I have a weird situation, and I want to know if I can tell the CA to kiss my A**, and cease and desist. Here's the story.

    Back in 1995 I bought a car that was financed through Chrysler Financial. The car was involved in an accident in 96, it was not my fault, and the other persons insurance cut me a check for close to 8 grand. The check was made to me, not Chrysler, the car was totaled. I cashed the check, with the intention of trying to settle with Chrysler, but did not. I never paid them back, and eventually they gave up, they never sued me, they only put a bad mark on my CRA with a notation that 7k was charged off! Thats the last I hearbbd about it, I disputed the trade and got it removed from all 3 cra's. I was NEVER SUED!

    Today in the mail, I got a letter from CREDITORS INTERCHANGE, a collection agency in NY. They say that my debt with Chrysler Financial for $7978.55 has been placed with their office.

    HAS THE SOL PASSED for legal collectability? The date of deliquency after the wreck was in 96, and I live in MD.

    Obviously chrysler wasnt too interested or they would have sued me. It has been 5 years, will a cease and desist get rid of my problem. Any suggestions?
  2. DaveLV

    DaveLV Well-Known Member

    This website seems to indicate the statute is blown:

    $8,000 is enough money to make it worth your while to consult a local attorney, pay whatever consultation fee you need to pay to be on the safe side.

    Remember though they can still sue you. Your defense is the SOL has expired but if they sue, you must respond.
  3. roni

    roni Well-Known Member

    They can sue you. And your defense would be the SOL. This collection agency probably will NOT sue you though. They are probably a scumbag company who bought the debt for pennies on the dollar and suing YOU would cost THEM. Send a cease and desist letter OR do nothing. Either way you will be safe and the most you will be out is a few hundred dollars in legal fees if it comes to that. THE CA is probably looking for a sucker. I suspect the next letter from them will be a settlement offer or a payment plan paying 1/2 now. HA! If you bite you restart the SOL. So dont Bite.

    Good Luck!

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