SOL 2004 for a debit NCO finical keeps calling?

Derogatory items age off your credit report 7-1/2 years from date of first deficiency. Nothing restarts this clock. But this has nothing to do with whether you can be sued or not.

The Statute of Limitations (SOL), the timeframe to bring lawsuit, varies from state to state: http://www.bcsalliance.com/y_debt_sol.html. Typically the SOL starts from the date of last activity or last payment. Making a payment can restart the SOL.

The SOL in Florida for open contracts is 4 years. Unfortunately, Ohio tends to view credit cards as written contracts which is 15 years. If you have some kind of proof that you still lived in Florida for the whole 4 year SOL, you might be able to use that as a defense against being sued in Ohio under the longer SOL.

You could just negotiate a settlement now. You can probably settle for 10% or less. Get any settlement in writing and do not give the collector direct access to your bank account.

NCO is a horrible, wretched outfit.....Debt collectors/collection agencies do not have direct power of garnishment on their own. I normally agree with BDancer but I am not sure about the Ohio statute of limitations being a written contract.

Send NCO a letter via Certified Mail with Return Receipt (NOT regular mail) stating:

Per the Fair Debt Collection Practices Act, I cannot officially respond to your claim until validation is made for the alleged debt. I am officially requesting validation of your claim in the form of a copy of the original application with my signature. I cannot respond to your claim until validation in this format has been presented. A typed letter showing an account number and balance due is not validation.

This letter has been mailed via Certified Mail with Return Receipt. Receipt of this letter is being officially time stamped.

------------------

When they call back, tell them: I have sent a certified letter to your office officially requesting written validation of this alleged debt per my rights under the Fair Debt Collection Practices Act. Per this federal law they must provide written validation within 30 days and they must cease collection activity until they send you written validation.

To speed things up, fax this same letter to the collection agency. Free fax service at: http://www.myfax.com/free/

Problem is that before the 7 years another company buys the debt and the 7 years start all over. Save up some money and settle with them.