OK, about 10 years ago, back when I was young, dumb and dumber I got an account with a mail order catalog and bought a few things. Then I got smart and got a divorce - but hit some really hard times anfter and paying this debt jusn't wasn't a priority when I had kids to clothe and feed. I made minimum wage...ok, enough of the drama stuff, I need help. Recently I had to have my credit checked, it was like only 2 weeks ago & to my surprise (smile) my credit report looked great! Then I recieved a letter from Asset Acceptance LLC from Cleveland, OH stating that "it is our pleasure to welcome you as a new customer..." the letter goes on to mention that the original account has been purchased and now owned by them. And of course it states that unless I notify them within 30 days after receiving this notice that I dispute this debt, they will assume it is valid. Well, after all this time I did forget about this debt, but I do remember it. I checked the state where it was incurred (NY) and the SOL is up, and it's expired also in my present state. Now what? Do I send a letter telling them the SOL is up-which acknowledges I did owe it, or do I simply tell them the matter has been taken care of and to "cease & desist"? PLEASE HELP! I'm so nervous I've bitten down all my finger nails and can't sleep.
There are two SOL's to be concerned about. The SOL for bringing suit (often referred to as the Statute of Frauds) in each state. Good for you that you know that this SOL has expired. That means the new owner of this debt can bring suit but will get thrown out of court when you raise the SOL as an affirmative defense. The other SOL is imposed by Fair Credit Reporting Act. That SOL is 7 years from the "Status Date" or, in this case, Charge off Date. That's when the CRA's have to remove this matter from your CRA file. That SOL may or may not have expired. What would I do in your shoes? Of course send a validation letter. That will force them to prove that you do, actually, owe money, to them. It will also use up more of the FCRA SOL. Heaven help them if they place anything in your CRA file before validating. That would bring an immediate $1000 suit under FCRA from me. If the validation shows the FCRA SOL has also expired, I would politely tell them to go fu#k themselves before I will send them a penny and start the Statute of Frauds SOL all over again.
flyingifr, Thanks for your comments and suggestion. I'm going to look for a sample letter to request validation. I was reading another post and someone recommended not actually signing the letter...but using the script font instead. What do you suggest? Thanks!
Re: Re: Help...PLEASE! Letter from CA As a matter of practice I never have any problem signing anything I send out, but in BLUE ink, not black, and I make sure my signature strokes go over some text in teh letter making it harder to "lift" my signature from that letter to som eother document taht I did not, in fact, sign. If a CA wants to add forgery and fraud to the list of things I end up suing them for, it will end up costing them a heck of a lot more than the $1000 FCRA and FDCPA give me.
