logo

Debtconsolidationcare.com - the USA consumer forum

auto repossesion 10 yrs ago

Date: Mon, 07/23/2007 - 12:51

Submitted by anonymous
on Mon, 07/23/2007 - 12:51

Posts: 202330 Credits: [Donate]

Total Replies: 3


About 10 yrs ago we had a car repossessed. Since then we have bought 2 houses, been over our credit report numerous times and cleaned everything up. This was never on any credit report and we were completely unaware of it all this time. We just recently were contacted by a company that bought this debt (which we were never contacted about after the repo) and they want us to pay $14,000. Is this possible that they can try to collect this so many years later? We live in Pennsylvania.
Thanks for any advice.


The debt must be past the SOL period and the time frame within which it has to be reported in your credit copy. Which company is calling you? Your need to ask for the itemized statement of your account so that you are sure of dealing with the right company. Later, you can make them aware of the FCRA laws.


lrhall41

Submitted by fatb88 on Mon, 07/23/2007 - 13:26

( Posts: 218 | Credits: )


Do not confirm this debt. Do not agree to make payments on this debt. Ask the company to validate the debt in writing certified mail. I really doubt a company lost 14k on a car repo and these guys probably bought an old debt for 1 penny on the dollar which means they bought this debt for 140 dollars and they are trying to charge you 14,000. These guys are just trying to scam you out of your money. Check your SOL laws on written contracts to see if you are outside the SOL. If you are outside the SOL then they can not collect and you can dispute the entry on your CR.


lrhall41

Submitted by DOLLARSandSINCE on Tue, 07/24/2007 - 07:26

( Posts: 1078 | Credits: )


More than likely this is one of those ZOMBIE collection agencies that buy old debt and try to collect on it. There was an article on msn.com that was talking about these people. Be leary of these people. You might want to go to the MSN web site and look for that article. It was under the money section I believe.


lrhall41

Submitted by 2nband on Tue, 07/24/2007 - 08:14

( Posts: 2277 | Credits: )