Debt Collectios and SOL
Date: Tue, 04/10/2007 - 14:31
I have three credit cards that were written off by the banks back in 2000/2001. The accounts were then transffered over to collection agencies. Each account was for about 6500.00 each. Now each account is up to about 17,000.00 each. I was thinking of trying to pay off these collections by negotiating with them. I'm not sure if the Statute of Limitations is out on these accounts or not. If the time is up, what are my options. Any help would be greatly appreciated.
Thanks
The statute of limitations regarding the time limit for lawsuits
The statute of limitations regarding the time limit for lawsuits vary depending on what state you are in.
But as far as the debts being reported to the credit bureaus, that time starts 6 months after your last payment. Then add on 7 years, and that is when the item should be removed from your report. Since you are nearing that mark for these accounts, you also should consider that it will start the sol for reporting all over. But it would look better for you to have paid them off, also.
The 7 years is just for reporting to the credit bureaus. I'll l
The 7 years is just for reporting to the credit bureaus. I'll look up the SOL for CA, just a sec . . . .
The statute of limitations for a delinquent debt is the time lim
The statute of limitations for a delinquent debt is the time limit for the creditor to file a lawsuit. This period starts when the debtor becomes delinquent. The fact that the SOL has "run" on a particular debt will not necessarily prevent a lawsuit from being filed, but the defendant can have the suit dismissed on this basis.
The Statute Of Limitations only covers lawsuits, and SOL expiration does not affect other types of collection action or reporting of the account to credit bureaus. The creditor or collection agency may theoretically continue with letters and telephone calls forever (although third-party collectors are subject to the "cease and desist" provision of the Fair Debt Collection Practices Act.) However, they will generally put much less effort into collecting "Out-Of-Statute" debts, and may give up easily.
In this case, I may not have to pay off these acconts? I was con
In this case, I may not have to pay off these acconts? I was considering filing BK to get this cleared up and start my credit up again. Should I consult with a lawyer on my situation before doing anythig?
In fact if you payed anything at all toward these debts, it woul
In fact if you payed anything at all toward these debts, it would bring them back into the SOL (and of course this is one thing these sort of collectors hope for). I'd consult with a lawyer. But I personally, wouldn't file bankruptcy over some old debts on which the SOL has run. Yes, the SOL is 4 years in California, someone else thought it was 7 as well, I don't know how that got started.
Law Student
San Francisco, California
the 'seven year rumor' got started because internationally, afte
the 'seven year rumor' got started because internationally, after 7 years, your slate gets wiped clean etc etc ... so every one assumes its the same with the state laws ...
fdcpa vaguely states, where the state law is more lenient that the fdcpa law, the state law takes precedence (spell check, gotta a massive migraine)and i could be wrong on that...
A lot of people get confused because of the two different statut
A lot of people get confused because of the two different statutes of limitation we discuss here. Sol for reporting on a credit report is 7 years 6 months from date of first delinquency.Sol for legal action varies by state and by type of debt.
Quote:fdcpa vaguely states, where the state law is more lenient
Quote:
fdcpa vaguely states, where the state law is more lenient that the fdcpa law, the state law takes precedence (spell check, gotta a massive migraine)and i could be wrong on that... |
When the laws overlap, the applicable statute shall be whichever one provides more protection to the consumer.
Example:
FDCPA permits two calls to the house per day
State law permits one call to the house per day
State law is more restrictive to the CA, so state law applies.
right ... thats what i meant ... just couldn't explain it with t
right ... thats what i meant ... just couldn't explain it with the alien that's banging about in my brain....
I would go with your instinct. Consult an attorney, especially i
I would go with your instinct. Consult an attorney, especially if considering bk. Who knows the law better in your state than a licensed practicing attorney?
Just be careful. Lawyers like to sell their services. Some ban
Just be careful. Lawyers like to sell their services. Some bankruptcy attorneys may try to get you to file bankruptcy so they can make $.
You should be able to put this behind you by sending the Cease & Desist letter, unless you have the funds to pay it off and you really feel obligated to do so.
Yes, cajunbulldog, I didn't think of that. The CR is 7 years, s
Yes, cajunbulldog, I didn't think of that. The CR is 7 years, so that probably confuses some people.
Health Insurance
I gave birth 3 yrs ago 2003, and the attending pediatrician's medical group sent the claim to the wrong insurance (my old insurance). They sent the bills in my old address. Year 2006 I found out I was sent to the collection agency when I applied for the home loan. The bill of $180 became $250 dollars. I would like to pay the $250.00 dollars but it seems like it don't make sense of paying them because I have a valid health insurance which is still active up until now. The Medical Group of the attending physician sent it to the wrong insurance and sent it to the very old address. What I don't understand is that before giving birth 1-2weeks prior I went to the hospital and registered with my current address and legit health insurance. It was the medical group's neligence they should have contacted my old insurance and find out what is my IPA, I used to have Pacificare through HPMG (Hills Physicians Medical Group). My insurance's IPA changed to ABMG (Alta Bates Medical Group). Anyway I was sent to Collection Agency called Rash Curtis and Associates. Year 2006 up to now still harassing me, always kept calling my homes more than 10 times. I tried to settle this matter to the Medical Group itself and everytime I call them to fax the claim to my insurance, she kept saying she faxed. Everytime I called my health insurance they said she never faxed it but when I received the copy of the bill and faxed it to my health insurance they said they recieved. It is just so frustrating because tonight while we're having peaceful dinner with my family there goes the call again from collection agency stating it's very urgent matter giving my case number etc etc. Please somebody help me! By the way I live in CA.