Asset acceptance sending letter for a 12 years old debt

I recieved a letter from this company saying I owe 1083.78. It is for a sofa I bought about 12 yrs ago. I sold it to a friend that was to take over the payments, she changed my billing address to hers and I never heard about it again assuming it was paid. I pulled my report it was not it was charged off in 1996 for 392.00. Now I am getting letters and phone calls 4 times a week from this company. If it was just the 392.00 I would pay it but 1083.78 is more than the sofa cost and it is in a dump somewhere in Ohio...

Kristine

Asset Acceptance purchases junk debt in most occasions. The said debt seems to be out of the Statute of limitations period. You can't be forced to pay it in any case. Also this debt should not presently appear with the status 'collections' in your credit report.

If it is shown in your file, it means that the CA has tried to re-age your accounts. This is done with the purpose to keep negative information in your file for longer period. You need to dispute with the agency and take assistance of your lawyer, if required.

Send a cease and desist letter to the company to stop all collection activities. Ask them to validate the debt where it will be proven from their side that the debt is out of the statutes period. Send your letter through certified mail with return receipt requested. This will leave a legal proof of all your activities.

If the phone calls continue after they have received your letter, you are in charge of filing a case against them. Record the phone calls with dates and time along with the name of the lawyer. Show it to your lawyer and he will guide you towards the next step.

Ben,
Thank you for your fast reply. I just pulled my recent report and the charge off is not even there anymore. I have no neg anything. Should I use the same sort of letter that I saw in the other post that roxette posted for another user? Thank You Again this has been on my nerves.

Hi

You can use the cease and desist letter attached in the thread given below.

http://www.debtconsolidationcare.com...-cdletter.html

Or you can also choose a template from our letters section in the site.

http://www.debtconsolidationcare.com/letters/

Feel free to pick the best one that suits to your needs.

Regards
Roxette

Ben,
Just a quick question I did notice on my recent report that my friends address does come up as a place I lived. Can I get rid of this?
Thank You again!!!

Kristine

I will suggest you to update your address with the bureaus or any other agency that has a genuine reason to contact you.

But I will stay away from agencies like Asset Acceptance or any other agency with illegal intentions. Most probably, the personal info will be misused.

Regards
Roxette

Hello,
I sent the validation letter and they sent back everything I asked for. It says that the last transaction on this account was 3/97 but it was charged off in 96. When I go online to seach the sol for ohio I find this:
Written or oral account: 6 years, (O.R.C. §2305.07).

Written contract: 15 years, (O.R.C. §2305.06).

Oral contract: 6 years (O.R.C. §2305.07).

Note payable at a definite time: 6 years, (O.R.C. § 1303 .16(A)); (2)).

Demand note: 6 years after the date on which demand is made or 10 years if no demand is made and neither principal nor interest has been paid over that time (O.R.C. §1303.16(B)).

Dishonored check or draft: 3 years after dishonor, (O.R.C. §1303.16 (C)).

and in another website I found something that says open accounts is 6yrs. so now can you tell me what is a credit card. Also do you have a sol letter to send them if the sol is up on this....
Thank You

Hi Kris

The Statute of Limitation in Ohio for credit card debt is 6 years. So, you must be relieved to know the fact that the debt is out of the statutes. Now, neither you can be sued for this debt nor you can be forced to pay it.

You have to send one letter to the company stating the fact about the expiry of SOL. Please frame this letter that perfectly suits to your needs.

Always send your expired SoL letters via "return receipt requested" and keep copies for your records.

There is another thing that pulls attention here. As stated, this account should not appear in your file at this time. This account has crossed the 7 year reporting time allowed by the Fair Credit Reporting Act. So, you need to dispute on this point too.

I wish that you get positive results out of your action and as a result, enhance your credit ratings.

Do let me know the outcome of your actions.

Regards
Roxette

Thanks Roxette.

how do i dispute debt that was done when i was 16 i know about the ambulance ride i had medical at the time now they say i owe 867.88

At age 16 your parents should have been liable for this since you were a minor. Dispute as "not mine". Was this a private or municipal ambulance?

I have old debt that stays on all my credit reports and they just get bought by someone else and they update it even though its past the sol what can I do? Help in ohio!

what happens to them and if you do pay a debt off does it stay on my credit report what can you do once you pay them get them removed thanks ,ohio

hi again sorry should I consolidate my loans? they are at a variable rate at 4.3, but I'm going back to school and those loans will be fixed at 2% so what am I to do???? thanks

Help in Ohio, have you been making payments on these debts? If so, you restart the SOL each time a payment is made.

no I don't