Credit card debt from nearly 7 years ago and junk collectors...?

When you gave that collector your bank info for a payment, you may very well have reset the Statute of Limitations (SOL), the timeframe for bringing lawsuit. It varies from state to state: http://www.bcsalliance.com/y_debt_sol.html. But that might be considered acknowledgment. If you are served a summons, you should definitely check with an attorney to make sure you didn't restart the SOL.

At this point, you can either send the collector a certified, return reciept letter telling them to cease all contact. They have to stop but will probably sell the debt to another zombie collector.

If you want to settle, you should be able to setlle this 8 year old debt for about 10% to 25% in a lump sum payment. Better to save for a lump sum offer than try to work out a payment plan. Get any settlement agreement in writing and do not give the collector direct access to your bank account.

By the way, if you defaulted on this debt over 7-1/2 years ago, it should age off your credit reports. Dispute it with the credit bureaus as being beyond the 7 year reporting period.

When you sign up for a credit card there are interest, late payment fees, and other penalities for non-payment. These fees are how the company makes money and stays in business.

-- you didn't follow the terms of the agreement, so I don't know why you think you don't need to pay anything except the money you spent.

-- you don't get someone else's money for free.

Why is it unreasonable for the company that is owed the money doesn't want to negotiate with you? There is no requirement that they take a lessor amount that what you owe.

The original credit card company or collections company can use any or none of the credit reporting agencies. So this debt not appearing on the TransUnion report doesn't mean anything except that report should have a higher score because this transaction is missing.

You are incorrect regarding the SOL. If there is a judgement, which there almost definitely is because this is a credit card debt. The SOL to GET the judgement is the years that you are using. The actual timeline to recover the debt is 10 years in most states and many states have an automatic renewel for another 10 years (20 years total).

What you should do is research if there is a small claims judgement against you? Ask the collections company to send you this paperwork... give them a specific timeline to get it to you -- 30days is reasonable.

-- if they can't provide the documentation, send another certified letter saying that since they can't certify the judgement against this debt, you are not reasonable for repayment.

Be aware that in Florida the SOL stops when you leave the state. If you return it begins again from that point in which you left. "http://law.onecle.com/florida/limitations/95.051.h...

So you need to find out exactly when the SOL started and when you left the state (and be able to prove it).

In the future, simply hang up on the collection agents, never discuss these matters over the phone. Get everything in writing.

Do not be tempted into recording the conversation on the phone if the debtor is calling from Florida. That state requires 2-party notification for phone recording and it could come back and bite you seriously if you try to use such a tape in court.

For now, send the collection agency a letter demanding verification. Look at your credit report and see what the amount is they claim you owe, and what date they are using as the date of delinquency. If either is wrong file a dispute with the credit bureaus.

Debt collectors say a lot of things to try to get you to pay them. Many times they will pretend to be law enforcement or attorneys or threaten that you will be arrested (all illegal tactics).

If the SOL is expired, you can't be sued for the debt, but that doesn't mean that collectors won't try to get you to pay. If you acknowledge the debt or send any payment, it will restart the SOL.

As other posters mentioned, don't do anything over the phone. Do everything in writing so that you have a solid paper trail should the case end up in court. And also debt agencies will record phone conversations in an attempt to trap into acknowledging a debt that is not yours or agreeing to pay a certain amount. Once they have that on tape, it amounts to a verbal contract. Send them a letter (certified mail return receipt) requesting proof of debt ownership and also telling them to cease all phone contact and communicate only in writing.

This debt is old and has apparently been sold to several agencies. This being the case, there is little to no chance that this present agency will be able to present any valid proof of ownership of the debt, as debt is frequently bought in bulk and comes with no supporting documentation. Without this proof of ownership, they can't collect on the debt and it is also illegal for them to use fradulent documents to file a lawsuit.

Just get everything in writing and you should be fine. These companies just try to intimidate people into paying debt that they do not owe them and will do whatever they have to do to get it. Don't become a victim to them. It is honorable that you would want to pay a debt that you owe, but the credit card company isn't losing a dime here. They sold your debt and anyway they didn't LEND you money, they created the money out of thin air and got paid a commission every single time you used the card, so they made a lot of money off of you and never had to put up any of their own, so they are going to be fine here. Also, just because you may owe somebody money doesn't mean you owe the people that are calling you money. For instance, if you owe money for your cell phone bill that doesn't mean you owe me money for your cell phone bill just because I am calling and saying that you do.

Hope this information helps. Be safe on your move back to Florida. Aloha

It's my position that you should never do business with a collection agency that engages in tactics like this. It's highly unlikely that you are "really" dealing with a law office...but rather a debt collector pretending work for one. Send them a cease communications letter. Fax and send them a letter via Certified Mail + Return Receipt (do NOT use regular mail) stating:

Per the Fair Debt Collection Practices Act, cease all communications with me. Receipt of this letter is officially being time stamped via Certified Mail by the US Postal Service.

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Free fax service at: http://www.myfax.com/free/

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- You cannot pay your original creditor and doing so would not fix your credit. Once they sell your debt to 3rd party debt collectors, they are no longer entitled to receive payments on the defaulted debts

- Unless your husband is a co-signer on this defaulted account, then he cannot be held liable for this debt

- More about the SOL: http://appointmentcards.wordpress.com/2011/03/15/s...

It is the the debt collector's responsibility to prove the validity of the debt. If they can't provide you with the information your requested, then you don't have to pay them a single dime.

Also I wanted to add, I was in a similar situation, and I contacted an attorney, and we sued the pants off of the debt collector for illegal practices.

STATUTE OF LIMITATIONS ON ENFORCEMENT:

Open Account (credit cards): 4 years

Written Contract: 5 years

Domestic Judgment: 7 years (renewable)

Foreign Judgment: 5 years

Do not call. Do not say anything on the phone. Do everything in writing, without exception.