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John | My wife is being sued about an old debt - what can we do? |
My wife has an old debt (from buying a computer 6-7 years ago - about $1600 currently) that has essentially no activity since then. She lives in Missouri; the debt was incurred in Pennsylvania.
The one bit of activity is that we sent the current collections agency a $10 check (in my name, not hers) last August. The CA acknowledged receipt of partial payment, and we have not contacted them in any way since.
Was that enough to restart the statute of limitations on this? We didn't realize the implications; still living essentially paycheck-to-paycheck, so any advice will help.
Additional Details
Also: she is currently unemployed - we live entirely off my income. Our only major property is two autos; her name is on both titles (sole name on one of them). |
 |
 
primrosh
 |
The limitation is very useful defence for defending money suits. One should and one must make use of this defence because the law says that it the duty of the creditors to sue for recovery before the debt become stale and unrecoverable.
It is not loosing your honesty. This is a right to defend oneself on the basis of limitation.
Payment by check enhances the period of limitation of debt only if the debt has not already become time-barred. The earlier limitation should not have expired at the time of payment by check. There should be continuity of payments to save the debt from becoming time barred.
In case of payment by instalment, the limitation is reckoned for each and every instalment but as per the law of the land. |
|
looker
|
I don't know the law in Missouri, but check it out on the web. Some collection agency most likely BOUGHT your debt and they are jus trying to cellect it. The original creditor wrote it off years ago. The job of the collection agency is to collect and they will threten you, call you, etc. I had a similar situation. I simply printed the law from the internet, attached it to q letter I wrote telling them to stop and I never heard from them again. Sometimes IF you pay (yes, even $10,) it will start all over again, because there was activity on your file. It's SAD,but it's better NOT to pay anything on old debt, rather than paying anything because the 7 years of bad credit starts on the last day of activity on your file. I learned the hard way, wanting to be honest and pay back my debt, but it would have been better for me not to pay it at all, it would have been completely OFF my credit record today, but now I still have 3 more years to go before hitting 7 years. So, look up the law, then fight them or if they are CORRECT, then offer to pay them $1 per month until it's paid off. They can't say you are running from your debt then. In court , you would win because you offered a payment plan. Good luck. P.S. The guy above me is excellent, he's right ON! |
|
Janet princess
 |
You better start earning money.If you own a website you can money from
google adsense,commissionjunction.com and if you want to earn money daily www.axill.com is the best.
Improve your site traffic and promote these ads for revenue generation.These are the best
work from home,earn online money easily options. |
|
jamesfentress44
 |
In my state, if you don't have anything of value, what can
they take? Plenty! They will have a circuit judge find
the settlement in their favor..even the cars you mentioned
can be taken unless you put them over in your name,
providing you yourself are not mentioned in the court
papers...then they will hound you for 15...that's fifteen
years and watch to see if you accumulate anythiing of
value...also, if you're still living and working, they will do
what the can to re-start the whole thing over ... until you
get disability (SSI) anything you get will be in danger...
they cannot touch your disability payments....A word of
caution here...You cannot live on disability payments
alone! Wouldn't it really be better to strike a deal or
at least try to come up with the $ 1600.00...it's awful
to not be able to own anything just over that little amount! |
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cajunbiggeorge
|
Check the statute of limitations. You will always owe the debt, but in Texas the company has to sue within four years, or they lose their right to do so. Check with an attorney. |
|
masch33@sbcglobal.net
|
Before you do anything, check into the company that's trying to collect on the debt first. There are companies out there that buy "bad" debts that have been written off by the company and try to harrass you into paying them.
http://www.educationcenter2000.com/legal/consumer_protection_laws01.htm
http://www.consumerlaw.org/issues/seniors_initiative/cc_debtcollection.shtml
We had some guy call our house saying he was "Investigator Malone" once who was a total jerk to me and told me that my husband owed money on an old debt from his ex-wife from 10 years prior (from a store that was no longer in business...hmmm clue #1) My husband called him and told him to send him something in the mail and he would pay him if it was indeed his debt. The guy kept insisting on a fax number and he would fax him the information. Then he became really obnoxious and started telling my husband that they "arrest people like him every day" blah, blah, blah. The next thing I know, my husband's yelling and I could hear this guy on the phone yelling.
Well, anyhow to make a long story short, he violated several parts of the "Fair Debt Collections Practices Act" by claiming he could have my husband arrested, etc. So, we contacted our State's Attorney's Office in writing, explaining what happened. In about a month, we received a letter from the State's Attorney saying that they dealt with the matter and then a letter from the "collection agency" saying the matter was closed. I'm not sure, but I'm thinking he didn't want to send anything via the US mail because it would constitute some sort of mail fraud...
I'm not sure if any of this applies in your case, but it's worth a look before you do anything. |
|
Jennifer
|
Hi,
I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It's legitimate.I came across this company on NBC News.Check it out here:
http://creditsolution.ez-mart.biz |
|
Billybean
 |
Basically you have one option - pay up the money that you owe. What's your problem with paying your debts.
If you have limited income, then draw up a repayment schedule with the creditor. It certainly looks like they want their money - and why shouldn't they? |
|
Wilhelmina A
 |
It is advisable that you seek the advise of a law practitioner/lawyer as it is a legal matter so you may know exactly what you should do. |
|
MoneyMonkey
|
Your wife bought a computer and owes the debt. At this point, since you have little income, it is best to try to settle with them for a fraction of the amount. Offer them $500. Make sure you get it in writing that the check you are going to send will be fore Settlement In Full Without Recourse. That's important, and you need to get that in writing before you send a check. Pay by check, and do not give them electronic access to your bank account. It probably would have been best to "let sleeping lions lie" as they say, but the best thing now is to deal with it, get it cleared up and out of your life. Good luck! |
|
Peter S
|
Duck and weave. Either that or negotiate to pay it off. Isn't your moral obligation to pay it off anyways? |
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