Hi,
My question involves collection proceedings in the State of NY. I signed up for a class and then withdrew within 12 hrs after the 100% credit in Aug 1998. I worked at the medical center affiliated with the university and the class was free as a benefit. I tried to work with the University to have the debt wiped out. But it went to collection. However, I didn't pay since I didn't take the class.
I had last heard from the collector in 2004. However, last month my employer received an income verification request from another company trying to collect this debt. I sent them a letter asking for verification of the debt. They sent back the information from the university showing the accounting done by the university. The documents show an entry from 4/3/04 indicating they were willing to have me pay $450 to resolve the debt. The SOL on this debt has expired.
What should i do about this now?
old debt
Hi Cyd,
Even if the Statute of Limitations (SOL) has expired, it does not mean that the debt has become uncollectible. You cannot be sued for non-payment of fees if the SOL has expired but you are still liable to pay for the debt.
The entry of 2004 will drop off by 2011. So, you need to decide if you want to pay this or not.
Thanks,
Aaron
I think this information is wrong
The 7 year clock on when an account drops off a credit report starts when the last activity on the account initiated by the consumer takes effect. So, if the poster had last contact with the residue in 1998 the. The account should already be off the credit report. Also, I would seriously question my employer if they are willin to send income verification to anyone who mails a letter and asks for it. The account is uncollectable as the consumer cannot be sued in court. However, they do still owe the debt and not paying it becomes a moral issue, by if it's paid at this point then it could be placed on the credit report with a 2010 date and restate the reporting clock.
I would send a dv letter that references the dates belong outside the sol and that it needs to be removed immediately from the credit repot and include a cease and desist
Finance Diva