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peggars
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Subject: 7 year old debts being sold to another lender
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Fri Oct 23, 2009 3:25 pm
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| can a credit card company sell a debt older than 7 years to another lender, and that lender post it on your credit report for an additional 7 years? |
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debranewell2008
Joined: 10 Oct 2009
debranewell2008's page
Posts: 605
89 Magic Points
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Fri Oct 23, 2009 3:49 pm
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Hi peggars,
Do you know the SOL for you state if it is a debt that is past the SOL you need to send them a letter stating that it is past the SOL. Do not make any payments to them because if you do the SOL will start all over again. |
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SIA
Joined: 18 Oct 2009
SIA's page
Posts: 57
46 Magic Points
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Fri Oct 23, 2009 5:59 pm
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| What is SOL? |
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debranewell2008
Joined: 10 Oct 2009
debranewell2008's page
Posts: 605
89 Magic Points
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Sat Oct 24, 2009 2:27 am
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| It is the time frame in which a creditor can still collect on a debt. If it is up than they no longer can. Each states SOL is different. So it's best to check you state. |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
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Sat Oct 24, 2009 6:57 am
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Hi Peggars,
The lender can sell but reporting it to the credit reporting agency is not possible because most probably it has past the SOL. Which country do you reside in? If you can tell me that, then I can let you know about the SOL or the Statute of Limitations. Moreover, a negative report is supposed to stay on your credit report for 7 years and then fall off. So it cannot reappear on your report. If it does then you have to ask for debt validation and then dispute it.
Statute of Limitations is the time period within which a creditor can take legal action against the debtor to collect the debt. Different states have different time frames for SOL. Once, the debt is past SOL, then the creditor can no longer sue the debtor to collect the debt.
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All the Best 
Justin |
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soutry
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Subject: SOL and debt consolidation
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Fri Mar 05, 2010 1:22 am
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| My spouse does not know that her debts was already past SOL. She did the debt consolidation and stop the payment to debt consolidation before it completed due to un-employment. Suddenly the debt was purchased or sold to another lender and being reported in credit report by the new creditor. This is like starting all over again. Is this legal? what can she do because it appear twices on her credit report with the same problem. |
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NightStar
Joined: 10 Mar 2010
NightStar's page
Posts: 76
Location: Illinois
1419 Magic Points
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boonnernapy
Guest
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Subject: Want to sell good & fresh CVV in many types & countr
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Wed Mar 17, 2010 2:20 am
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Hi,
I currently have got a lot of cvv in many types & countries for sell. Please give me a message if you wanna buy.
##### PRICE LIST #####
US:
Visa: $1.4 Master: $1.5
Amex: $2 Discover: $2
US - BIN: $3 for BIN with 4 numbers. $8 for others BIN.
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UK, CA, AU
No BIN: $5 (All card types)
BIN: $10
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EU:
No BIN: $8
BIN: $15
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EU & Cvv Inter without Address: $4
=== I WILL ISSUE THE HUGE DISCOUNT IN LARGE AMOUNT OF CVVs ===
##### RULES - PLEASE KEEP IN MIND #####
- No chatting
- No Cvv for FREE
- Allow me up to 12 hours to change your CVV in case of DIE or INVALID (This will be confirmed in our Agreement)
- My reputation will be build up by amount of cvv you purchased. 1st time: Maybe 1 cvv, second time: 2 cvv... and you will never regret to do business with me.
#######################################
New customer: If you worry about bad or scam service. Just follow my instruction:
1. I will check your Messenger ID, LR account to confirm you are really new customer.
2. New customer will have a chance to purchase maximum 3 CVVs with 100% replacement if DIE or INVALID in 2 hours.
3. After 3 CVVs you purchase, you will nearly be confirmed by our service. Pay for next CVV or buy in large number, depend on my reputation by you.
#######################################
Contact Information:
YIM: cvvstock
Yahoo email: cvvstock@yahoo.com
Live Msg: cvvstock@live.com
ICQ: 629705835
Again, NO SCAM, NO CHATING, NO GIVING CVV for FREE.
I am very happy to do business with you in the long time and build up my reputation as well.
Thank you, |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4005
1187 Magic Points
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Wed Mar 17, 2010 2:41 am
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| Once you pay on a debt it starts the statute of limitations over again, it don't matter if you pay a dime or a hundred bucks. At least that was always my understanding. I have had collectors try to get just a few bucks from me to set up a payment plan, that is exactly how they get the old clock ticking again. |
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NightStar
Joined: 10 Mar 2010
NightStar's page
Posts: 76
Location: Illinois
1419 Magic Points
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Wed Mar 17, 2010 3:02 am
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You are so right, my rule is if you can't pay in full and be done with it, then don't bite off more than you can chew, it might just be that you efforts to make a payment plan goes by the way side if you loose a job or something. Than you would be stuck with a debt following you longer then it would of it you just avoided paying and waited out the original expiration on the SOL.
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