Here is the story line...Assest Acceptance is trying to collect on a $150.00 debt that is way past the SOL for the state that the debt was incurred. Before I met my wife, while she was going through a divorce, her husband opened an account with a utility company using her name. She did not even now about it until it started showing up on her credit report. It has been dropped off the reports due to age (Over 8 years old). Just got a letter in the mail (in my wifes maiden name) saying that they purchased the debt and want payment. Not sure how to address this... 1. Do we ignore it due to the fact that SOL is out? 2. Do we send validation letter to them? 3. How do we keep them from screwing up our credit rating? 4. If we contact them, can they automatically re-age the debt? 5. Can they legally report this to the credit agencies since the SOL has come and gone? We have a great credit rating and scores and I don't want them messing with it. Thanks!
If the SOL is expired and the debt is over 8 years old, it can't be reported on your credit reports and you would have an absolute defense if the creditor ever tried to sue you to collect. Send them a CMRRR letter informing them that the SOL has expired so the debt is too old to have any legal liability for a consumer. Hopefully they'll leave you alone after that.
