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Sub: #1 FIRST NATIONAL COLLECTION
Replied on 07-22-2009, 11:04 AM
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The collection agency contacted me about a debt I thought was paid off years ago. They said if I have the release letter from the Credit Card Company it would stand as my account closed. Since it has been a very long time since I paid it off I do not have the letter. I live in Virginia and believe the SOL is six years and I'm sure this has to be past six years. Also I checked all my credit reports and there is nothing on any of the reporting agencies of an outstanding debt. What do I do?

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Sub: #2
Replied on 07-23-2009, 01:50 AM
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Did the collection agency send you a dunning letter?
If they have not done so, you need not worry about the call. Moreover, since the debt has passed the Statute of Limitation period, you should not make even a small payment as it may restart the SOL and you may be required to pay off the entire outstanding debt. The creditor cannot legally collect the debt if the SOL has already expired.




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