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Very old creditor

Date: Tue, 10/10/2006 - 20:02

Submitted by PDLFREE
on Tue, 10/10/2006 - 20:02

Posts: 1245 Credits: [Donate]

Total Replies: 5


I have received several letters from a collection agency trying to collect on a debt from 7 years ago. It is Uptons Department Stores which closed it's doors in 1999. Anyhow they do not show any negative activity on my credit reports as it is more than 7 years old. Anyhow opinion time if I acknowledge their letters by sending them a debt verification letter will it "open" the claim on my credit reports again? Obviosuly this claim has been sold to a die hard collection agency. Any input would be appreciated.


Asking a debt collector or junk debt buyer (apparently who this is) will not restart any SOL or credit reporting clock. Asking for validation is an important step, and bills which have been referred to collections should only be paid once they have been properly validated. If you tell us what state you live in, someone could look up the actual SOL in that state. Also, since the original creditor has since gone out of business, the collector will most likely not be able to validate the debt, and is simply hoping you will panic and send money without researching your rights and responsibilities.


lrhall41

Submitted by LCW on Tue, 10/10/2006 - 20:07

( Posts: 1151 | Credits: )


Thank you for that information, next time I receive a latter from them which I think they come every 6 months or so I will request a validation, I just didn't want to see it show up on my CR again, I have enough bad stuff there right now that I am trying to fix. BTW I live in TN which has absolutely no laws regarding PDL's but we will let illegal aliens come in and get bogus SS #'s and driver licenses.


lrhall41

Submitted by PDLFREE on Tue, 10/10/2006 - 20:13

( Posts: 1245 | Credits: )


Tennessee Statute of Limitation

A) Breach of contract: 6 years, (T. C.A. 28-3-109).

B)Open accounts: 6 Years, (T. C.A. 28-3-109).

C) Domestic or foreign judgments: 10 years, (T .C.A. 28-3-110).

help me define these please

Does B mean that after 6 years a creditor can't bug you?

Does C mean that a civil judgement ( Capitol One in my case) should go off credit report after 10 years?

Thanks, I am not good when it comes to legal jargin.


lrhall41

Submitted by PDLFREE on Tue, 10/10/2006 - 21:17

( Posts: 1245 | Credits: )