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Statue of Limitations Michigan

Date: Thu, 01/29/2009 - 08:56

Submitted by anonymous
on Thu, 01/29/2009 - 08:56

Posts: 202330 Credits: [Donate]

Total Replies: 10


Does the statue of limitations start when the account goes to collections? or when the last payment was made? I have a debt collector that is a lawyer that buys up old debts and is making me pay I pulled my credit report and he has made it seem that a debt has been reported on it shows the last activity from 2003 but under it says it was reported on in 2008 after I paid him for a different debt. Is this alright for him to do?


I had 3 debts all are different accounts I paid the first account so this guy bought another one in which if I knew the sol would not of had to pay it I admited to it and am now paying payments. The third one had not been reported on since 2003 until I paid the other debts than it was reported in 12/2008 so it seems this guy is or has already bought the debt but will not come after me until the second one is paid because he is big on going to court and will and has already garnished my wages and he can not garnish me for 2 different debts at the same time. ( I think) So buy him buying this third debt is the statue reset?


lrhall41

Submitted by on Thu, 01/29/2009 - 13:03

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My husband took out a unsecured loan some years ago,shortly after lost his job. I think this loan company finally sold his debt to another company(lawyers).Three years ago,he got served and two years ago they came and took his car, which was really my son's car, but it was in my husband's name for insurance purposes.My family was heart broken over this.The company auctioned the car and put the proceeds towards the balance of this loan.Every year they take my husbands portion of Mich.state taxes. How long can they do this? This balance is double what it was when he took the loan out some years ago.


lrhall41

Submitted by on Wed, 02/11/2009 - 19:41

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Unfortunately there is not much you can do. Seeing as it was 3 years ago, there is no way to appeal the judgment. Once a judgment is entered, they can pretty much do whatever the courts let them. The court sets the amount that is owed plus interest builds up over that time till it is paid off. The interest rate goes by your states guidelines for judgments or if they unlawfully put a fake credit card agreement in the lawsuit with a higher interest rate, then the court will go by that.

The only thing I can suggest is that if you are financially settled now and you are able to get a loan and keep up with payments, take out a loan and pay the judgment off. If you have money left over, use that towards your payments on the loan.

If you don't really miss getting your state taxes then let them take that till it's paid off or if you have the cash to pay the rest of the judgment off now then you could do that also and get it out of the way.


lrhall41

Submitted by pokertramp on Thu, 02/12/2009 - 05:33

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I have an old credit card from 2003 and has been in collections since this time. A collections agency picked up the dept. This debt does no show on my credit report. Can I be taken to court and ordered to repay since the dept is too old to reflect on my credit report?


lrhall41

Submitted by on Thu, 03/12/2009 - 16:10

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