Credit repair

Garnished wages for a unpaid cc?

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sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1127

1045 Magic Points

Subject: debt

Sun Sep 21, 2008 12:23 pm

The SOL thing can be confusing. I had a CA call me about a Credit Card I DID have. I still have a balance on it and I'm paying the Cc company what I can, every month. They have no problem with that. However..the CA says that THEY own it now and to start paying THEM payments. I asked them to send me something in the mail to validate what they are saying. They tell me they aren't "obligated to. they do everything by phone." Yeah...right. I told them " sorry, I can't help you then."

Mary

Joined: 06 Jul 2006
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Posts: 424

10960 Magic Points

Wed Sep 24, 2008 11:11 am

Hi sdchargers
Since you are paying back the debt to the credit card company every month, the cc company may not have sold off the debt to any collection agency. As you said that the CA is calling you up to pay the outstanding debt to them, they need to send you in writing that the credit card company has authorized them to collect the debt. Whenever, a debt is sold off to a CA or the authority to collect the debt is transferred to the CA, the CA has to send you in writing that the debt has been sold off to them and they need to send you a debt validation notice to let you know about your right to validate the debt within 30 days of getting their letter.
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Where there's a will, there's a way !!

carol

Joined: 27 Jun 2006
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Posts: 462

12343 Magic Points

Wed Sep 24, 2008 11:30 am

Yes, Mary is right. Even if the collection agency calls you up for repaying the amount to them, they need to send you a debt validation notice within 5 days of first communication with you in writing, to inform you about your right to ask for validation of the debt within 30 days. However, if the first communication is written, the debt validation notice is included with the letter they send you. On getting the validation notice, you need to send a debt validation letter by certified mail. Only if they can provide you with proper validation of the debt within 30 days of receipt of your letter, you need to come to a repayment agreement with them and pay them back, else you are not liable to pay them. However, all communication should be written. You can also pull out your credit report to see whether the name of the collection agency has been reported against your credit card debt.
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Carol

fireyone

Joined: 26 Feb 2008
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Posts: 3249

1340 Magic Points

Wed Sep 24, 2008 11:33 am

SD I would send out the validation letter to the collection agency. We have seen on here the deciptful ways they gop about there business and at least you would have yourself covered and protected in case they would happen to try any of their ruthlesss tactics with you.

goodnatured

Joined: 03 Nov 2007
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Posts: 3235

2257 Magic Points

Thu Sep 25, 2008 2:25 am

great advice here, if you follow it, you should be okay:)
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Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!

fireyone

Joined: 26 Feb 2008
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Posts: 3249

1340 Magic Points

Fri Sep 26, 2008 4:26 pm

I am still amazed that these debt collectors do not bother getting the proof on debt when they buy it up. I know there are people out there unaware of their rights and probaly get taken advantage of quite often. I am glad they don't get the proof it just doesn't seem to make that much sense.

goodnatured

Joined: 03 Nov 2007
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Posts: 3235

2257 Magic Points

Sat Sep 27, 2008 3:37 am

I am sure that they figure that they can call up and that you will just happily agree to pay the amount that they ask for.
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Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!

erb1953

Joined: 31 Dec 2007
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Posts: 627

-15 Magic Points

Sat Sep 27, 2008 10:41 pm

I bet that is the way they hope it will go that way they can make easy money.

goodnatured

Joined: 03 Nov 2007
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Posts: 3235

2257 Magic Points

Sun Sep 28, 2008 1:23 am

I seen one post here that somebody posted asking about how to become a collector. Yeah, we love collectors here, I would hope that these are not popping up all over in peoples living rooms as a small business venture.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!

fireyone

Joined: 26 Feb 2008
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Posts: 3249

1340 Magic Points

Sun Sep 28, 2008 3:28 pm

Proabaly are. I would think that line of work would be aggravating. They probaly get paid by commission. I hope someone around here doesn't get the urge to become one of them. Especially if they post with us. Kind of would be like a knife in the back kind of thing. The debt collecors world is getting smaller. I think the main money idea now is debt consolidation and credirt repair. I think the junk collecotrs field is pretty occupied and doesn;t need anymore people. Kind of like when there is a big need for doctors and everyone runs out an gets educated...by the time you are done the field is filled.

SHEESH
Guest

Subject: UNPAID DEBT IN SO CAL

Mon Oct 27, 2008 11:57 pm

About 7 years ago I was layed off by 2 different companies and couldn't pay a sears account , so when I did get my own business going and found another job I wanted to pay off the debt but couldn't find who had my debt now. Sears told me they didn't have it anymore and mentioned one company to call which I did and they didn't hve any info on me or knew who took over the unpaid debt. Someone mentioned on another website that in California a debt past 5 years nothing can really be done legally?

goodnatured

Joined: 03 Nov 2007
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Posts: 3235

2257 Magic Points

Tue Oct 28, 2008 2:37 am

Did you check the statute of limitations? I am not sure what it is for california, I am sure that some one here will post it soon.
_________________
Goodnatured,

Trying to become and stay debt free, thank you for all your help and support!

carol

Joined: 27 Jun 2006
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Posts: 462

12343 Magic Points

Tue Oct 28, 2008 7:23 am

Hi Sheesh
All you need to do is to pull out your credit report and find out whether it is listed there or not. Most probably, the debt will not be listed in your report because the seven year time frame has already expired. As far as I know, SOL is 4 years for written contract and 2 years for oral contract. So the SOL might have expired and you need not pay back the debt.
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Carol

Justin

Justin

Joined: 17 Jul 2006
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Posts: 534

13649 Magic Points

Tue Oct 28, 2008 7:29 am

Statute of Limitation in California is 2 years for oral contract and 4 years for written contract, open ended accounts and promissory notes. Now since your last payment has been over 7 years the SOL has already expired and you need not pay even a single amount.Moreover, the listing has also been removed from your credit report and so your credit score will also not be affected by the outstanding debt. Hence you are no longer liable for the debt. One important thing which you should always keep in mind is that, the creditors may sell off the debt to the CA and the CA may again contact you. In such cases you should never make any single payment because even if you make a small payment the SOL will rewind and you may be required to pay back the outstanding debt in full.
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Best Wishes
Justin

fireyone

Joined: 26 Feb 2008
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Posts: 3249

1340 Magic Points

Tue Oct 28, 2008 10:34 am

Sheesh. you really need to take everyones advice here and just let it go. It is past the SOL so they can not do anything to you legally. Also remember any payment restarts that SOL and then it will be four years form the date of the first payment you made to repay back the debt before the SOL is up again. Let by gones be bygones. It will fall off shortly if it hasn't already done so. Keep a copy of a cease and desist letter filed on your computer and if any debt collector gets to annoying you can send them a copy of the letter and they legally will not be able to contact you again.

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