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 Posted: Tue Sep 05, 2006 9:32 am Subject: S O L of Payday Loan |
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I received a letter from NPA of Shawnee Mission, KS. They are trying to collect a debt for National Opportunities Unlimited from June of 2003. Since the SOL in Arkansas is 3 years, isn't this debt too old to collect? Thank you.
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Kathryn
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| Posted: Tue Sep 05, 2006 9:35 am Subject: |
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Actually I believe that it is a 7yr period but not a professional here so not compeletly sure. I've always heard though that debts are nulled out after 7 yrs.
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billyandstarlasmom
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Bossy4455
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| Posted: Tue Sep 05, 2006 9:52 am Subject: |
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The payday loan had a page I signed and faxed to the original company. How would this debt be classified?
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Kathryn
Joined: 29 Jul 2005
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| Posted: Tue Sep 05, 2006 10:52 am Subject: |
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Kathryn, after you signed the papers, you are liable to pay the debt. Maybe there is something in your post, I haven't understood yet. Can you please explain?
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anthony
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| Posted: Wed Sep 13, 2006 7:31 am Subject: |
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A collection agency contacted me concerning the debt. I have been looking for my bank records for 2003 to see if the payday loan was paid off, since I have not received any correspondence what so ever from the origianl debtor. I have worked very hard to pay all of the outstanding debts off and I am not trying to get out of paying a debt I owe, but was inquiring if a collection company could legally collect on a debt from 2003. I ask for validation and they sent my the payday loan contract and nothing else. Shouldn't they have provided me with the payment history? I am trying to make sure I have all the correct information before contacting the collection agency to ask for more information. Thank everyone for your help.
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| Posted: Wed Sep 13, 2006 7:37 am Subject: |
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Sorry, I forgot to log in before posting.
Anthony - I am not sure I owe this debt. I can't imagine that the payday loan company would not have contacted me if the loan was not paid in full. I did change banks in late 2003, but don't recall receiving anything from the payday loan company. Before I pay $345 for a $180 payday loan, I want to make sure I owe the debt.
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Kathryn
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