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Sissy Girl · Posted: Mon Jul 07, 2008 5:26 pm Subject: Debt Collection in Colorado

I recently received a debt collector letter in regards to a debt from 2002. I have never received anything in the past and I am trying to figure out if I need to pay this or not. What are the statue of limitations in Colorado and can the debt be renewed after a certain amount of time?

Thanks,
SG

Posted: Mon Jul 07, 2008 5:32 pm Subject:

Statue Of Limitations In Colorado

Oral = 6 years
Written = 6 years
Promissory = 6 years
Open-Ended Accounts = 3 years

Posted: Mon Jul 07, 2008 8:37 pm Subject:

You need to send a dv ltr to verify that this debt is indeed yours and that this company is legally able to collect on it. By the looks of your sol 6 years is this year...what month are they trying to collect from?

What kind of debt is it do you even know?

Give us these answers and we will help you more Cool

Posted: Tue Jul 08, 2008 6:08 am Subject:

If the SOL has expired the only thing that can renew it is a payment (and in some states a promise of payment)

Posted: Tue Jul 08, 2008 8:53 am Subject:

Be very careful when agreeing to payments as this will start the clock over again so it is very important that you get the dv ltr as jcmet's suggests.

Posted: Tue Jul 08, 2008 9:35 am Subject:

OP....if you have not already done so...pull your free annual reports fro all 3 CRA's @ www.annualcreditreport.com You'll want to see how this is reporting

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Debt Collection in Colorado

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