I had a credit card account with a 50K balance that was charged off in November of 2000 and has now dropped off my reports. I'm just curious about something. They never sued me. One CA did threaten to sue and he was well within the SOL but I answered back saying that if he did sue, I'd answer and defend, and then file bankruptcy if they obtained a judgment (I was a bankruptcy paralegal at the time). It was a bluff, as I had $$ set aside to settle the account if sued but it never happened. Do you have any theory as to why this large amount was allowed to drop through the cracks? It blows my mind as I see acquaintances sued on $3K and $4K accounts.
The agency who had the account was ran by idiots? I love it when I get letters like that, usually that's the only way a debtor will file banko is if someone sues them. Otherwise, it's an idle threat/stall. I've certainly spent the $100 to file suit on debtors that have threatned that, and they finally filed. I assume it could be the agency who bought the account got in over their heads with too many accounts, or couldn't find appropriate assets to sue you with. If it was an account was with me, it'd have been sued, just to see if you'd file.
really no other answer I would have answered a suit, sent discovery, taken depositions, etc., and probably run your legal fees up to 10-15K and made you file a summary judgment which I would have then appealed but I know what you mean. I am still shocked that they didn't at least try.
