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Guest · Posted: Sun Jun 22, 2008 6:43 pm Subject: Old credit debt question

Not sure if this is the right place to post this:

I have 3 old debts, they were opened in 2001 and I have not made a payment since. Should I add them and give them to my debt consolidating company to start repaying them. They haven't contacted me. I live in upstate ny.

Posted: Sun Jun 22, 2008 8:19 pm Subject:

These accounts should be written off and 7 years from the last acitivity, they should fall off you credit report, so I'm going to say no, but let's wait and see what the experts tell you....

Guest · Posted: Sun Jun 22, 2008 8:29 pm Subject:

Also I noticed that one of them is not on my credit report anymore, but the other 2 went to collection agencies

Posted: Sun Jun 22, 2008 8:43 pm Subject:

What state do you live in, they could be past the SOL.

Posted: Sun Jun 22, 2008 8:48 pm Subject:

Sorry, I just realized you were in NY, anyway I checked and the SOL is 6 years in NY.
http://www.fair-debt-collection.com/SOL-by-State.html#33

Guest · Posted: Sun Jun 22, 2008 8:56 pm Subject:

Beyond SOL and reporting period. There's no legal obligation to pay these. Best bet is to let them age off your reports but continue to monitor in case some sleazy JDB re-ages them.

Guest · Posted: Sun Jun 22, 2008 9:59 pm Subject:

Thanks. If I should see that it is re-aged, what do you do?

Posted: Mon Jun 23, 2008 6:17 am Subject:

Hi,

You have come to the right forum.

You can consolidate the debt through a consolidation company. But I will suggest that you should try Self Repayment plan first.

Phoenix

Guest · Posted: Mon Jun 23, 2008 6:43 am Subject:

Ok, so if I see that something has changed on my credit report, like if it was re-aged, then I should start making payments? I'm confused

Posted: Mon Jun 23, 2008 6:50 am Subject:

If you beleive something has been re-aged then call the CRA's and ask what date of first default was reported by the data furnisher. If you know it is incorrect and can prove it then DV the CA, dispute the tradeline, and file complaints with your AG, their AG, the BBB, the FTC and the ACA if they are members. If that doesn't get you anywhere....sue. don't start paying as you might re-set the SOL.

Guest · Posted: Mon Jun 23, 2008 7:30 am Subject:

The thing is, these accounts are so old I don't have any paperwork anymore. Only I know when they were opened and when last payments were paid

Guest · Posted: Mon Jun 23, 2008 7:33 am Subject:

Those debts are passed the SOL. Don't pay them. The creditor sat on its rights and didn't timely collect. If they "re-age" them, it is an illegal practice. Don't pay an "re-aged" debt. Dispute any "re-aged" debt with the CRA.

Posted: Mon Jun 23, 2008 8:28 am Subject:

If it is out of the SOL, you don't have to have paperwork. It doesn't mean that you don't owe the debts, just that they annot legally collect on them.

I had a CA sell mine off to another CA, and had to ask for Debt Validation from them.

Good Luck, let us know what happens..karen

Guest · Posted: Mon Jun 23, 2008 8:37 am Subject:

If you dispute with cra or sent a dv, can you start a lawsuit by doing that?

Posted: Mon Jun 23, 2008 8:54 am Subject:

There are some CAs that will file suit when you DV them. But they can't re-age them or legally collect after the SOL, so you have a defense if they do.

I would start out by disputing with the CRAs. Someone who has experienced this or has more knowledge will be along and give you more advice.

What I did was, send a DV, dispute with CRAs and went from there. They just sold it off to another one, and went through it again!..karen

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