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boddidog
Joined: 18 Sep 2009
boddidog's page
Posts: 1
31 Magic Points
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Subject: i paid off a debt, now collection say not so?
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Fri Sep 18, 2009 2:09 am
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| I had a judgement against me ( long story ) after trying to refinance my home to pay all debts,my existing mortgage company agreed to do it as i was in good standing, now of course the debts had to be paid off for them to do this, i recieved nothing to pay my debts that was done and a check was cut for me for what was left over, the judgement was in 2000, the refi was a couple of years later. I purchased a new car a couple of years back and nothing came up with my credit, today I get a collection agency saying they bought the debt, I checked my credit report and its clean ( all agency's ) , my documents are copy's and don't say who was paid off, doesn't even mention the check they sent me. whats my options Thanks |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1240
28942 Magic Points
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Fri Sep 18, 2009 1:01 pm
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| boddidog, Most debts fall off after seven years. If this debt was last paid on anytime before 2002 then it has fallen off all three agencies reports. Now that being said I would agree with Justin. More than likely this debt is past the SOL, since most expire within six years. You must be careful not to send a payment or you will reset the SOL and it will begin again from the date you make a new payment. |
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abigorbot
Joined: 01 Sep 2009
abigorbot's page
Posts: 34
756 Magic Points
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Fri Sep 18, 2009 5:31 pm
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| Quote: |
| boddidog, Most debts fall off after seven years. If this debt was last paid on anytime before 2002 then it has fallen off all three agencies reports. Now that being said I would agree with Justin. More than likely this debt is past the SOL, since most expire within six years. You must be careful not to send a payment or you will reset the SOL and it will begin again from the date you make a new payment. |
This is so very true. I did not know this before I had talked with Merchants Credit Guide and what was a year past the SOL date has become current. I wish I had done further research before I called the agency. I felt very pressured about a debt that was taken out by my ex-husband and made a small payment. Definately be very careful. |
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