Can a collection attorney representing a foreign bank register a debt with CRA's in the USA 6 years after the bank's first formal demand for payment? No judgment exists here in the USA and there is no chance of them getting one now since the SOL has already expired. Also, there is no record of the debt on my US credit reports - YET! I'm almost certain that the debt was recorded with CRA's in the bank's home country (united kingdom), but that doesn't worry me because I don't live there anymore. But can they legally add the debt to my credit reports here in the USA? Thanks in advance
Tough question. I don't know, but I would think that they could for the next year. Remember, they pretty much need to be a subscriber to that credit bureau (probably in the US) in order for them to list it. If they're threatening it, I'd imagine that it's a hollow threat.
The strange thing is that the bank did (unsuccessfully) try collection efforts themselves and through another collection agency here in the US back in 1995, and then they disappeared. Nothing was added to my US credit reports back then, so why would this new collection attorney start sending me letters now 6 years after the fact? They also claim that the bank is their client which gives me the impression that the bank is still involved. Wouldn't the bank have washed their hands of this whole thing by now i.e. charge-off? Since the debt is now expired (SOL = 5 years), what other collection efforts can they make? Thanks again!
Come on guys! Which one of you experts is going to step forward and answer these questions? Thanks again in advance!
Well, I'll take a swing at a couple of your statements? How about the idea that some sleazeball U.S. attorney has learned about your indebtedness to the foreign bank and has taken up residency on the loan. While it's a slim chance, it isn't out of the question. It has happened before. The bank has forgot about it or gone out of business or charged it off, so the sleazeball finds out about it and starts claiming he is representing the bank. He then proceeds to collection and uses the U.S. credit bureaus to intimidate you into paying. Make him prove who is the actual owner of the indebtedness. Then go from there depending on the answer. Bill Bauer
Thanks for the response. I have asked them to validate the debt and am currently waiting for their response. If they are able to validate, can they still stick this on my perfect US credit report? As I said before, there is no other action they can take legally because of the expired SOL, but I just don't know if they can add it to the report. I sincerely hope not!
