 I overdrafted my bank account by $125. Its been 9 months & I still haven't payed them. What can I do? |
| They sent me a letter saying they cancelled my account so I figured that was it. But My wamu account still exist and I dont know If I should pay it back anyway or for how long its gonna affect my ... |
|
 Can anybody help me to find the right credit card, please!? |
| Its been almost 3 years since I got my first Bank of America's Debit card. My friends still asking me..."Why you don't have a Credit card, yet?"...and my answer every time was the ... |
|
 I was refused credit by a credit card company. Can I get a credit report for free ? |
| Can i get my credit report for free if i submit this credit refusal letter to the agencies? T... |
|
 My dad died last January, and a bill collector is sending me 2 bills daily? |
| Someone hooked a cell phone up in my dads name and all of the sudden, dad started getting People magazine in Spanish. My dad was never able to speak spanish and would never have ordered a ... |
|
 Anyone know debt-collecting laws? |
| Can a company collect on a judgment debt that is 15 years old? It's not a real estate or secured loan, just money that was owed. My co-worker is getting letters and calls from a collection agent ... |
|
 Capital One Credit Card Debt? |
| I'm finding I can't afford the payments to Capital One anymore. I owe them a total of $4900.00. I've called them and asked them for a lower interest rate and they stated I'm at ... |
|
 Does anyone know where i can get an auto loan? |
| my credit isnt great because i had to let the bank take my truck when i lost my job which was months ago now i need a car and i dunno who will finance me i found the car im in love wit only 8,000 not ... |
|
 Can being having my tuition payment given to a collection agency effect my credit rating? |
THis is specifically in toronto canada
I have not graduated but they are sending my file to a collection agency
I dropped those classes but they are still charging me like 75% ... |
|
 How do I get out from an upside-down car loan? My work has cut my hours and I can't afford the payments.? |
| My credit is bad as it is and I had a prior repossesion 3years ago, I don't need another! I tried contacting the creditor but the will not work with me at all. I have tried several other credit ... |
|
| What can I do regarding a late fee for credit card payment? |
| I signed up for a credit card in JJB sport shop and was told I've about 52 days to make the first payment. I spent about £17 which I paid within this 52 days. That's a while back. Recently ... |
|
 Im told I have a lousy credit score for various reasons but Ive never had a credit card. How can I get one? |
| Im not in debt now and I own my car paid in full.The only ones ive been offered are insured or secured cards and I see them like a debit card.Will these cards proper use be the doorway to a real ... |
|
 What if a collection agency sends you bill after bill after month after month and you don't pay? |
| Will they take you to court? I have this big bill of like 700 some odd dollars that I can't pay. If they can send you to court, how long do they wait?... |
|
 Is this credit fraud and what could i face in court? |
| my dad and i have the same name. he allowed me to use his credit card to make a 5k charge while i was still living at home. i now live in another state and he now is threating to press charges. its ... |
|
| Has anybody ever used a credit repair company? |
| In particular a company called credit for all or any other repair company.They say they can remove bad credit from your file mainly because most of the finance companys dont keep great records thus ... |
|
 Does identity theft have a connection with car theft? |
Additional Details
lets say you leave your credit card inside your car and your car gets stolen.... |
|
|  |
japayne3 | Do I have to pay credit card that was once on my credit report but 7 yrs past and it's no longer on there? |
I was contacted today about a credit card that I had in college. I did not pay the credit card off and allowed it to go on my credit report. It stayed uppaid on my credit report for 7 years, and now it's no longer reported. As the 7 years has gone by and this balance was taken off my credit report, can they come back and now require that I pay it - almost 13 years later? Seems like maybe the original company sold it to another bill collecting agency? |
 |
 
MBATXguy
|
Well, if it is off your credit report, that is a good thing.. They can never report the debt again on your credit file.. However, be careful, because numerous collection agencies try to re-age the debt and place back on the consumer's file.. So, be vigilant in checking your credit report every year..
As to the other part.. can they make you pay it? Here is where it can get a little tricky.. If you have never acknowledged to them that you would make a payment OR made a payment, then your account most likely is past the statute of limitations...
You can look on this site for your state to determine what the time frame is for debt:
http://www.fair-debt-collection.com
If these collection agencies contact you again, you can request their mailing address to send them a cease and desist letter (return receipt requested).. Basically, this tells the collection agency to leave you alone..
And yes, after a year, most companies will send for collection to a third party collection agency.. After so many years, they will finally sell the receivable (debt) period.. |
|
stan c
 |
In most states, after 4 years they can not sue you. After 7 years, it comes off. If you start to make payments the SOL starts all over again. Do not discuss the account with them period. |
|
frankie77
|
You're right. It probably has been sold to collections. Morally, you should pay it. Legally, they should not be trying to contact you if they have had NO contact in over 4 years. If you do not intend to pay it, do not talk to them. |
|
Celeste
 |
Should you pay? Well, that's up to you. Since it's no longer on your credit report, it won't hurt your score if you do.
Can they make you pay? No.
Etta, all states have a statute of limitations on how long a creditor has to seek legal remedy. Does that mean they can't try after the SOL's expired? No, but at least you'd have a solid defense against them.
The FCRA discloses the guidelines for how long certain derogatory entries can be reported. And for most, 7 yrs. is the longest. After that, those negative entries must be deleted from your reports and CANNOT be reported again. If they are, you can dispute the entries with the credit bureaus.
Also, making a payment will not reset the 7 yr. reporting period. |
|
ray k
 |
I don't think you have to pay it.They will always try to get you to pay some money,even if it's been that long ago,that is what they do,but it is to late for them to do anything about it.Don't talk to them and they will give up sooner or later,but my guess is they will hound you for awhile, after all this is how they make money.They think better some than none. |
|
Etta P
|
Sorry, there is no statue of limitation on debt you owe. The 7 year rule that you are referring to is meant to have inactive accounts purged after a creditor does not update the tradeline. As long as the creditor updates the tradeline once every 7 years, you still owe it and it will be there forever. Think about it, if that was the case a person could open a loan then don't answer the phone or open the mail and after 7 years it would be forgiven, nope. Creditors frequently sell "accounts receivables" for pennies on the dollar that is owed. Then the agency "skip traces" the borrower and they can and do file civil actions where they awarded judgments. With that they can garnish wages, lien property, freeze assets and any legal remedy they are entitled to in order to collect a debt. Below is a website for the federal trade commission that regulates the action of creditors as it relates to the FCRA. |
|
mjohnsonmobile
|
It may not be on your vredit report under the original compnay but I bet it would show up in a public record search portion of your credit.
As far as them requiring you to pay it, they absolutely can. You probably signed the application etc etc etc...
Depending on the balance they may sue you for the outsanding amount, plus penalties and interest (over 13 years I would DREAD to think what that may be) I would see if there is not a way you can clean this up with them. |
|
a_mom
|
Unless you filed for bakruptcy and this card was listed in the bankruptcy then you are liable to pay it. The original company is allowed to sell it to another bill collection agency and they will come after you for it. I would double check your credit report. It may still be on there just under a different company. The collection agency also has the right to sue you for the amount, although probably won't unless it's a large sum of money. |
|
kk2
|
In short Answer NO. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 37 minutes(s) ago
| | | |
11 | 3 hour(s) ago
| | | |
11 | 7 hour(s) ago
| | | |
11 | 9 hour(s) ago
| | | |
7 | 2 day(s) ago
| | | |
11 | 4 day(s) ago
| | | |
11 | 6 day(s) ago
| | | |
11 | 1 week(s) ago
| | | |
11 | 2 month(s) ago
| | | |
11 | 6 month(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
