A collection agency bought an expired debt,reaged it and put it on my credit report.What should I do? Any help would be appreciated!
RE: HELP!!!expired debt! Bough I was told you can't "re-age" a debt...so dispute it!!! THEY BUY EXPIRED DEBT FOR 1-3% HOPING YOU WILL PAY ANYTHING ABOVE 3% FOR A PROFIT!!!
RE: HELP!!!expired debt! Bough Try and find out the date of the charge-off or last date of activity. If that date is over 7 years, then dispute the date as being past the Statue of Limitations for the CRA. And they have to remove it. If it is within the 7 years, then HEY, It not yours
RE: HELP!!!expired debt! Bough Don't Panic- this is majorly common! All you need to do is fax or mail a letter to the CRA that is picking it up and tell them the debt has been illegally re-aged. At the same time send a copy of that and a request to the agency advising them that the purchasing of a debt does not allow for re-aging the debt and that there are federal laws against that. If the SOL to collect is also expired then throw in a cease & desist sentence as well not to contact you, only correct the error. A new One wrote: ------------------------------- Try and find out the date of the charge-off or last date of activity. If that date is over 7 years, then dispute the date as being past the Statue of Limitations for the CRA. And they have to remove it. If it is within the 7 years, then HEY, It not yours
Kristi I would like to know if the link to the SOL on your site is up to date. I am getting a different amount of years for written for the state of PA when I search various SOL sites. Your link says 4 years while others have said 6. That utility bill is 5 years old and I want to send a ceast and desist letter so they stopped calling me!! But want to be sure they can't legally collect??? Thanks Mom
RE: Kristi I believe ours is current but here is the full collection laws for PA: Pennsylvania Interest Rate Legal: 6% Judgment: 6% Statute of Limitations (in years) Open Acct.: 4 Written Contract: 4 Domestic Judgment: 5 (writ of revival within 5 yrs.) Foreign Judgment: 4 -Lien against real e 5 yrs. -Personal property Ex: 20 yrs. Bad Check Laws (civil penalty) After demand and judgment triple damages in amount equal to $1 00 or 3 times the check amount whichever is greater up to $500. General Garnishment Exemptions 100%of wages, certain pensions, retirement accounts & Keogh plan under certain circumstances, and $300. Collection Agency Bond & License Bond: No License: No Fee: No
RE: Kristi Here are codes mom: PA Codes Written or oral Contract 4 years 42 Pa.C.S. § 5525. Injury to personal property 2 years 42 Pa.C.S. § 5524. Contract for sale of goods 4 years 13 Pa.C.S. § 2725 Action for relief not otherwise limited by Statute 6 years 42 Pa.C.S. § 5527
RE: Kristi a ? Now I have found your sample letter at the site, but the wording claims if they try to put anything on my report. They have off course which they can, but should I just change the wording a little. I would like to say something like since you have not accepted any offer I made and since the SOL has expried I have no other choice then to ceast and desist blah blah. Now if I do this I am hoping maybe they take me up on my offer, but with doing this they cannot contact us again right??
RE: Kristi a ? Right. If the SOL had not expired then they could contact you one last time to initiate suit but if they sol is up and you cease them and they try to sue, bring he sol issue up to the court and it would be dismissed. Momof3 wrote: ------------------------------- Now I have found your sample letter at the site, but the wording claims if they try to put anything on my report. They have off course which they can, but should I just change the wording a little. I would like to say something like since you have not accepted any offer I made and since the SOL has expried I have no other choice then to ceast and desist blah blah. Now if I do this I am hoping maybe they take me up on my offer, but with doing this they cannot contact us again right??
