Hello all, I got a letter in the mail from Receivables Specialist detailing a debt owed to MBNA. This was from 1995. I am quickly sending a validation letter out. I don't think it will be validated. But just in case, my question - The sol in NC is 3 yrs for a written/oral contract and an open account (cc?) and for a promissary note it is 5 years. Which means. I think that the sol has expired. How would I let the collection agency know this, if I have to play hardball? Would I wait for the validation from them?
Prolly the validation letter will chase them off, but if it doesn't a cease letter will. Once they know you know the law, they will look for greener pastures.
If you know that the SOL is up shouldn't you just send a C&D letter saying you intend to settle this with the original creditor? Then if the original creditor gets on you, you point out the SOL has expired.
I wouldn't promise intent to settle w/ original creditor if I don't mean it. What if the CA forwards that letter to the creditor, which then uses it as basis to re-age the account & try to collect the amount due? Rina -- Conquering through Christ... and Creditnet
I wouldn't go into any details about orginal creditor, SOL, nothing. Ask for validation and then, the plain old C&D letter and be done with it. If they sue, show up in court and tell the judge the SOL has run. DOn't give them any opportunity to say you acknowledged the debt.
Right! If you're not going to pay it, and would use the SOL as your defense if sued, don't acknowledge anything. You don't have to give them a reason for a telling them to cease communications.
Re: Statute of Limitations - Good N If you request validation (which you should), then there's no point in sending a C&D letter. Once they get a validation letter, the law requires them not to contact you anyway (other than to validate per your request). Saar
