Anonymous
Anonymous
Posts: n/a
Credits: 0
[Check]

Sub: #1 Is there Form Letter for an SOL Debt/Tax Form
Replied on 03-21-2007, 10:51 PM
Reply With Quote

Please tell me if there is a form letter I can use to
follow, when I write a collector, to inform them the debt is SOL, and bid the collector farewell?

Will I get a tax form when I do this?

Posts: 1,640
Credits: 12,316


Send message to Morningstar
Sub: #2
Replied on 03-22-2007, 01:19 AM
Reply With Quote

You'd only need a 1099 if the debt was forgiven, which I seriously doubt the collection agency would do. Since the SOL basically only applies to lawsuits to collect debts, I'd be willing to bet this debt will bounce from CA to CA for many years to come.

I haven't yet seen the applicable letter in the DCC community, but this web addy should be sufficient:
www(.)fair-debt-collection.com/Disputing_Collections/SoL-dispute-letter.html

__________________
The only people with whom you should try to get even are those who have helped you.
-John E. Southard


Moderator

Posts: 2,294
Credits: 26,416


Send message to DebtCruncher
Sub: #3
Replied on 03-22-2007, 03:56 AM
Reply With Quote

The SOL really only applies to a court's enforcement of the debt. A debt past SOL is still a debt, and can still be collected on - it just may not win if it goes to court.

I would also be cautious on sending any correspondence that acknowledges the debt. Some cases have held that your acknowledgment of the debt, in writing, can actually re-start the SOL. Your best course of action, I think, would be to dispute the debt and send a cease and desist notice.

They probably won't send you a 1099-C. However, it is interesting to know that the IRS considers a debt cancelled if a creditor has not made any collection attempts on it for two or more years.

Posts: 6
Credits: 275


Send message to SlyDog
Sub: #4
Replied on 03-22-2007, 01:47 PM
Reply With Quote

I would also be cautious on sending any correspondence that acknowledges the debt. Some cases have held that your acknowledgment of the debt, in writing, can actually re-start the SOL. Your best course of action, I think, would be to dispute the debt and send a cease and desist notice.

I agree, and add this in your cease and desist letter, tell them:

You are on notice that this is not my debt. This dispute and cease and desist letter is effective as to your agents and assigns. You are directed to notify any assign that this debt is disputed in its entirety. If you do not do so, I will notify any new owner of this debt by copy of this letter. Then you can explain how you committed fraud in selling this fraudulent account to them without disclosing the facts of the dispute.

Anonymous
Anonymous
Posts: n/a
Credits: 0
[Check]

Sub: #5
Replied on 03-27-2007, 12:27 AM
Reply With Quote

Thanks for all the advice.

Anonymous
Anonymous
Posts: n/a
Credits: 0
[Check]

Sub: #6
Replied on 10-02-2007, 12:29 PM
Reply With Quote

You are on notice that this is not my debt. This dispute and cease and desist letter is effective as to your agents and assigns. You are directed to notify any assign that this debt is disputed in its entirety. If you do not do so, I will notify any new owner of this debt by copy of this letter. Then you can explain how you committed fraud in selling this fraudulent account to them without disclosing the facts of the dispute.

Hello. I just found this site and I am confused that even though you know it is your debt, you would send a cease and desist letter since it is SOL?
It won't be appeared in your credit report?

Ang
Ang's Avatar
Posts: 2,301
Credits: 21,111


Send message to Ang
Sub: #7
Replied on 10-02-2007, 12:39 PM
Reply With Quote

I don't think i'd deny the debt in such a blatant way... just send the debt validation letter and the cease and desist. The only way SOL will apply to u is if they decide to sue. THen u MUST use the SOL as ur defense!
GOod Luck,
Ang

__________________
You will not be punished FOR your anger; you will be punished BY your anger. --Buddah

Anonymous
Anonymous
Posts: n/a
Credits: 0
[Check]

Sub: #8
Replied on 10-02-2007, 12:55 PM
Reply With Quote

Thank you, Ang.
With debt validation letter and the cease and desist letter, they won't go after you. That's what you mean?

So some people just deny it in such way even they know it is theirs?

I do not deny it, either. Just I do not want to pay if not confirmed it is mine.
In my recent case, I sent a debt validation letter and they sent me a letter indicating only the original creditor and amount, and interest which I still do not recall any. And I am not convinced yet that it is my debt...

Ang
Ang's Avatar
Posts: 2,301
Credits: 21,111


Send message to Ang
Sub: #9
Replied on 10-02-2007, 01:00 PM
Reply With Quote

Ok maybe i misunderstood but ur not sure this is ur debt?? The reason for the dv letter is to make sure this collection agencey does indeed own it! Have u already sent them a debt validation letter? U can always send a second one, telling them they did NOT send the info u asked for and once again state exactly what u want! Also, the cease letter in there will also stop them from calling and harassing u!
Now if u've already heard back from them on the first dv letter, get the second one out asap! U can only dispute this debt for a certain amt of time!
Good Luck,
Ang
P.S. Also, don't admit to owing this debt but don't deny it either, stay in the middle some where!

__________________
You will not be punished FOR your anger; you will be punished BY your anger. --Buddah




Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump



All times are GMT -8. The time now is 10:42 PM.






* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 20.565 seconds.