[roxette]

debt collectors often try to pressurize you by making you pay on some non existent debt. This debt can even become legal and you will have to pay for it.

collection agencies doing illegal business will purchase charged off or time barred debts and start contacting you. Suppose they call you for a debt of $10,000 which you don't owe. They will frame it in such a way and making you think that you owe this debt.

You think of ignoring this call as it is a charged off debt and is not shown in your credit report.

Till now, they have been successful in their plans move further in filing a lawsuit against you. Since you have been ignoring this call, you stay at home and the court rules in their favor as you didn't appear in the court and dispute it. This is what the debt collector wanted. This debt becomes a ‘VALID DEBT' to you even though you didn't owe them. The court has passed the orders on you to pay this debt.

The point is that when you get a collection call, don't ignore the call without knowing about it. Ask for validation and dispute it. If required appear in the court with all the evidences you have. You will be able to stay away from the unwanted pressure which might have been put on you later.

Hello Ben,

Again, I can't begin to tell you how much I appreciate not only your prompt reply, but the informative information that you have given me. I hope that you won't mind one or two more questions so that I handle this matter correctly. In doing so, maybe I can prevent it, before it becomes a major headache. I am going to write the Credit Reporting Agencies about my situation and send a copy (registered mail) to asset acceptance llc. Hopefully, this will deter them from sending any other type of communication to me. Is there anything else that I need to know that would help me? I think that the Credit Reporting Agencies should not be allowed to put anything derogatory on an indivual until it has been properly validated before hand. It just does not seem fair that you are guilty, and now you are the one that has to prove otherwise. Thank you for all that you have done to ease my situation for me.

Art

[ben]

Hi Art,

You are always welcome in the forums and post any of your queries here. We all go through hard times and it is a result of this interaction only, we get to learn about our rights.

You must have understood by now that the debt on which Asset Acceptance is pursuing collection is of no legal importance. But be careful from your side and not to activate its SOL period by making payment.

At every point when the CA is trying to collect the debt from you, you have to bring up the expired statute otherwise, a judgment can be forcefully entered on you. A collection agency is not barred from attempting any collection activities even after the expiry of SOL. You have reasons to defend yourself and this will prevent you from any kind of lawsuit.

Do explain this situation to the credit reporting agency and it is their responsibility to preserve your rights as per the FCRA.

Mention the CA to cease and desist all collection efforts as there is no further reason to contact you. They are required to stop all collection activities after receiving your letter. If they break and continue to call you, it is a violation of the federal rights and you are in charge of filing a class action lawsuit against the company.

Do not worry too much about this. It is the responsibility of the CRA to safeguard your credit identity and I am pretty sure, they will do so.

Take care and keep in touch often. You can join this forum and interact with us as a registered member. This membership is free and you will get many facilities over here. I am expecting to hear from you after sign up.

http://www.debtconsolidationcare.com/signup/

Ben

Hello Ben,

I have two final questions for you. Can the CA put this debt on your credit report if you don't reply to their written letter? Or if this debt has been on your credit report as a charge off already?

Many Thanks,

Art

P.S. I will be registering this afternoon.

[ben]

Those collection agencies that legally hold consumers' debt have the right to report to the bureaus at any point of time. It is within the legal rights.

But a CA that is not holding your account and is reporting to the bureaus is doing serious crime here. It is a violation of consumer protection afforded by the fdcpa Section 809 ( b ) and you can sue them up to the extent of damages done to your file. They should not report to the bureaus even if your account is shown as 'charged off debt'. They have the rights to do so only if they have the debt with them in legal terms.

How can a charged off account by the original lender, become a 120 Day late entry by the Debt Buyer, Asset Acceptance? If it is charged off it can stay on CR for 7 years, but how can the balance keep changing upward. I have made no payments, and it is past the SOL. THanks

[ben]

Timbo,

I find Asset Acceptance to be doing yet another illegal activity by re-aging your accounts. This is done with the intentions of keeping negative information in your file for longer period.

Asset Acceptance does not have the legal rights to convert a charged off debt into a 120 day late entry. Ask them to validate the debt in which they are required to specify the complete details. You should also check your latest credit report for this purpose.

I also understand that the said debt maybe out of the SOL period calculated from the date of last activity. However, please confirm the latest standing of this account before you make any communication with Asset Acceptance.

[Jedi Mistress Ari]

I've never heard of this tactic! What ever is it?

I recently got contacted by Asset Acceptance for a 10 year debt that was paid off. They want me to send them proof that the debt was paid off. I have no paperwork from 10 years ago and if I don't supply it, they will claim the debt as valid. IS THIS LEGAL? What can I do?

[Jedi Mistress Ari]

Nope! It's farcical.

You could contact the original creditor and ask for a statement of that account, just to cover yourself. Contact an attorney as well.

Look over this forum, my friend. You will read testimony upon testimony that Asset Acceptance is an organization of charlatans.

[KittieKat]

I was wondering, after reading some postings, some people stating that their credit card account is from 1989 (write-off) and the collection agency can not collect on that any longer due to the age of it. How old does an account have to be to make it invalid for collection?

[roxette]

Linda,

Collection of debt depends upon the statutes of limitations in a state. The SOL is a civil code and every state has its own statute. Check the state laws and know the SOL period in your state.

The statute of limitation is one of the most powerful tool by which any type of lawsuits and collection activities can be thwarted off. If a debt goes out of the SOL period, you can't be legally forced to pay the account.

However, one important thing about SOL is not to renew the date of last activity if it is past the period. If there is any kind of activity in the account, the clock is renewed from the beginning and all the collections activities will be enforced.

Regards
Roxette

[KittieKat]

What if you have moved and the debt is listed in another state at an hold address. Which state would I check?

[Teleport]

Originally Posted by Roxette

Collection of debt depends upon the statutes of limitations in a state. The SOL is a civil code and every state has its own statute. Check the state laws and know the SOL period in your state.

Roxette

I know some students have their parents home address on their DL, but go to school in another state. So my question is does this go by where the debt took place, where we live, or the state we have our driver license in?

-Mike

[KittieKat]

Well, that is good news. I just saved two years of grief! There is a two year difference to my favor!

[roxette]

Mike

I know some students have their parents home address on their DL, but go to school in another state. So my question is does this go by where the debt took place, where we live, or the state we have our driver license in?

The person needs to check the SOL period of that state where the account originated, no matter if he has moved to a different location.

Linda, I hope this post answers your query too.

Regards
Roxette