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lmerge
Joined: 16 Jan 2009
lmerge's page
Posts: 1
39 Magic Points
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Subject: Collection Letters for Account not on Credit Report
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Fri Jan 16, 2009 5:36 pm
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| I have been receiving letters of collection from no less than 10 different CAs for an account that isn't even on my credit report and I have three years of reports from all three agencies to back this up. If one of these CAs decided to sue, what are the odds they would be successful? FYI, I am in MN and the SOL is 6 years, which to me means that if it isn't my credit report it is more than 7 years old. |
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anthony
Joined: 31 Jul 2006
anthony's page
Posts: 550
13573 Magic Points
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Sat Jan 17, 2009 7:12 am
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Hi Imerge
The creditors may not list their names in the credit report against the debt at the first instance. They have send you collection letters and so you should ask for validation of the debt first. Send Debt validation letters to the 10 collection agencies separately by certified mail with return receipt. If they can validate the debt properly, come to settlement plans and pay it off, else if they report it to the credit bureaus, your credit score may fall. You can find sample debt validation letters if you visit the link letters of credit
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Anthony Marx
A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible. |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1093
25288 Magic Points
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Sat Jan 17, 2009 7:30 am
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If you send debt validation letters to the collection agencies, they cannot sue you to the court before they validate your debt. However, if they sue you without validating the debt, and you prove it in the court by showing them the return receipt which you got while asking for debt validation, they cannot bring judgment against you to recover the debt. Moreover, if the SOL has expired, the creditor cannot bring judgment against you.
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All the Best 
Justin |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3735
10 Magic Points
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Sun Jan 18, 2009 5:17 am
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Keep in mind that if they file suit one day before the statute of limitations expires it will put a freeze on it. I have a collection agency suing me and that is exactly what happened to me. They filed suit one month before the statute of limitations expired. It is like they lay in wait and then when you least expect it, wham, the case is filed in your local court.
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17413 Magic Points
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Tue Jan 20, 2009 11:30 am
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Hi Imerge
If the creditors sue you to the court and prove that you owe the debt, they can bring judgment against you either to garnish your bank account or your wage. Now, if you can prove in the court that the statute of limitation on the debts have expired, the creditors cannot bring judgment against you. If you receive a summon, always file a response to the summon else a default judgment may be brought against you. If the seven years on the debt has already expired, then the SOL has also expired. So do not pay them even a small amount. If you do so the SOL will restart and you may be required to pay the entire outstanding debt.
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Where there's a will, there's a way !! |
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