Hello everyone, I am new to creditnet and would like advice on the following: I had an auto lease that began five years ago, around May of 1999 and ended 2002. The OC (leasing company) never reported the tradeline during the time of the lease. To this date, it has never appeared on any of my three reports, so there was never a payment history for the lease - even after the termination of the lease. When the lease ended in 2002, there was a balance due that I never paid - late payment fees, over-the-limit mileage fees, and interest, totaling about $4,000. The OC has sent approximately three letters over the past two years demanding payment for the outstanding balance, but I have never responded. Last week, I received a letter from a collection agency demanding payment of the balance. Here are my questions: 1) Since the OC never reported the original tradeline, can they do so now, or is there a time limit that they have to report it to the credit agencies? 2) Can the collection agency now report it to the credit reporting agencies if the orginal creditor never reported the tradeline? 3) How should I respond or should I leave it alone since it has never appeared on any of my reports?
I had a similar situation with a cell phone company who never reported to the CRA's. When I was close to filing BK, the account went to collections. When collections came "calling," I referred them to my lawyer and all communication stopped. Luckily, neither of them reported to the CRA's once my BK was final. I got lucky, you may or may not. Maybe if you mentioned the companies someone will know what their procedure is from experience?
They can put it on your report whenever they like , the only time limit is for how long they can report it. yes they can If you ignore it, you have a better than average chance that it will appear on your reports. You can send a validation letter, which will stop them from putting it there UNTIL they validate (if they can). Do you know the SOL for collections in your state?
Just a comment on "SOL" "Do you know the SOL for collections in your state?" THERE IS NO STATUTE OF LIMITATIONS ON COLLECTING A DEBT IN ANY STATE Statute of limitations ONLY applies to pursuing a debt in COURT I debt collector can attempt to collect a debt FOREVER !
Re: Re: OC Never Reported Account I am well aware of that. The OP is new to the site, and obviously pretty new to credit repair. Using the word "collections" is only a tool to help them avoid confusion with the SOL for reporting and to simplify an initial search for that information. Google statute of limitations and debt COLLECTION and you will find multiple sites with the answer to the question I asked. Once the OP elaborated on the comment, such as identifying their state, or letting us know, they know the SOL for a lawsuit, then the conversation would have naturally evolved into a full explanation of what the "SOL for collections" actually means. Then nobody would have looked like a know-it-all.
1) Since the OC never reported the original tradeline, can they do so now, or is there a time limit that they have to report it to the credit agencies? 2) Can the collection agency now report it to the credit reporting agencies if the orginal creditor never reported the tradeline? 3) How should I respond or should I leave it alone since it has never appeared on any of my reports? australia 1*The time limit is before the end of 7 years. 2* Definitely as it hasn't yet been seven years from the time it occurred 3*Leaving it alone could be a good way for the CA to report it. VALIDATE BEFORE THE 30 days expire. ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <>
Re: Re: Re: OC Never Reported Account Hiding is correct about No sol on attempting to collect on a debt,however there is a sol on legally collectable debts.
