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califonia 7yrs gone by capitol one

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Subject: califonia 7yrs gone by capitol one

Sat Feb 27, 2010 8:07 pm

can a credit card company after 7 yrs report on your credit report and try to collect a debt ? just had someone from a collection agency call and i told them about 7 yrs expiration and they said i still have to pay the debt. what to do from here i have no clue ?

cinnamngrl

Joined: 01 Nov 2008
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Posts: 1455

6339 Magic Points

Sun Feb 28, 2010 3:35 am

after 7 years they can not post this on your credit report. they can attempt to collect until you instruct them to cease all contact. IF they try to sue you use the affirmative defense that the statute of limitations has expired on this debt in CA.
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fireyone

Joined: 26 Feb 2008
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Posts: 4285

127 Magic Points

Sun Feb 28, 2010 11:12 pm

Hello guest, I would send them cease and desist letter and a statute of limtation expiry letter. This should keep them from contacting you. Continue to check your report because they can not continue to report after the seven year period. Cinnamon is absolutely correct..if they do try to take you to court they will not win due to the expiry of the SOL. They too know this and usually do not take it that far. Chances are once this collection agency receives your letters they will resell your debt. Be sure to send the letters by registered mail.

Aaron

Joined: 08 Feb 2010
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Posts: 2675

48566 Magic Points

Subject: statute of limitations expired

Mon Mar 01, 2010 5:10 am

Hi Guest,

The statute of limitations (SOL) in California is 4 years. Thus, you can't be sued for the debt. Therefore, you can send a "cease and desist" letter to the company. You can find a sample "cease and desist letter" at http://www.creditmagic.org/repair/cease-desist-letter.html .

In addition to this, you can send them an expiration of SOL letter, mentioning that you are aware of your rights. However, the expiration of SOL doesn't mean that the collection attempts will stop. The creditor can sell off the debt to a collection agency. This charge-off will get reported on your credit report, and damage your credit score. So, it's better to pay off what you owe.

Hope this helps.

Aaron.
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cinnamngrl

Joined: 01 Nov 2008
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Posts: 1455

6339 Magic Points

Mon Mar 01, 2010 1:43 pm

this debt CANNOT be listed on a credit report after 7 YEARS!!!

The law allows you to instruct them to cease and desist all collection attempts
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fireyone

Joined: 26 Feb 2008
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Posts: 4285

127 Magic Points

Tue Mar 02, 2010 11:51 am

This is true but sometimes they do try. I mentioned it not being allowed to be listed in the earlier post/ but it is always better to safe then sorry and make sure it is not there. You can use the link Aaron gave you and send out your letter.

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