Waine
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hi, these links seem to help people in trouble, hope they do the trick for you!
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck dude. |
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Miss. Tee98
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I was told they can sell it to another collection agency and continue to do so. It is better to make a deal because all they want is money.
I have been cleaning my credit and I called everyone and made a deal. I had a bill for 1200.00 and only paid 600.00. You have to get them to make a deal and put it in writing before you pay it. Tell them that you have so much that you can pay. When they agree tell them that you want it to read paid in full. |
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Studly
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There are two timeframes you need to be aware of.
The credit reporting time for debts is 7 years, beginning on the day you became delinquent. In other words, if you owed a bill on Jan 1, 1999 and you missed that payment, THAT is your delinquency date.
Collection Agents will change this date to "re-age" the debt. They use such things as charge off dates, reporting dates, etc.....even make them up if they don't know your delinquency date.
If you can catch them doing it, you can file a lawsuit against them in small claims court and easily win $1000 violation of the Fair Credit Reporting Act.
Now the other timeframe is Statute of Limitations. This is the time you have a legal obligation to pay the debt. Once it expires, they can't sue you or take any legal action.
This time begins on the date of last transaction.
See the link below. It gives each state's SOL, and does a very good job of explaining both of these topics.
Contact me if you need more info. |
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Mr.Morgan
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If your debts are over 7 years old they can't sue you. Now go to a lawyer and ask him for a letter that states the the debt is over 7 years old. it will cost 50 to 200 dollars, ask for their rate over the phone. Once the collection agency gets this letter they will usually back off.... good luck |
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jodi_lynn_124
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No they cannot!! Just check the dates they cannot keep adding have to prove the dates. So if you know for sure it is past the 7 years you can dispute with the Collection company first and if they can't which if what u r saying is true (90% of the time it is) then you can send a copy of the letter to the credit bureaus and they will have no choice but to delete.
When I say 7 years i mean 7 years from the original date that you missed the payment. If you look on your credit reports it will have a status date or something like that and if it doesn't you can dispute it just for that.
:) |
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jititi j
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consolidate your debts ....
Ways to Consolidate Debt
http://www.debt-explained.com/category/Ways-to-Consolidate-Debt.html |
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Catspaw
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Statute of limitations is different for every state. You want to look up the SOL for contracts in your state - in many states it's 5 years. The statute starts to run from the last transaction - either last payment or when you last used the card - whichever is later. If you do not intend to pay, do not be tricked into sending a small payment to them. This will revive the debt, even if the SOL already ran once.
What they put on your credit report is different from what they can actually collect. It stays on there after the statute of limitations has run. |
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EARN
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yums
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read more tips on credit/debt and more on this site |
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onelonevoice
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if you are able to declare bankrupcy,you will have effectively killed any chance you have for credit for 7YEARS! |
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the_doe_bear
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In California it's 7-10 years. However what a lot of collection agency do is sell your "Debt" to each other so that it stays on your credit. |
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stopccdebt
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The statute of limitations is different for each state. You can do a yahoo search for "statute of limitations by state" to find the limit for your state.
As far as can they resubmit, the answer may surprise you. Legally they cannot, but it happens everyday. Some of the largest collections companies have been fined heavily for this.
To avoid this from happening to you, do not give them legal reason to restart that 7 year clock. This includes making partial payments or acknowledging that you owe the debt. Either action can restart that clock. Here is more information: |
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Big Bear
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Yeah, they can resubmit it after seven years or go for a judgment lien, depending on the amount owed.
Statutes are usually seven years. But that's only on some debts. |
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Dwight D J
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7 yrs after your last payment...only way to renew it is to pay on the debt or if they sue you |
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John
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don't fart around not paying your bills. Its not worth it. |
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