Credit Card Debt Sold to Collector Almost SOL

They'll only give you a 1099c is you pay off a settlement. And there is no possible way to ascertain a chance percentile on whether you will get sued or not by any creditor at any time.

What do you mean credit cards...SOL? Are these credit card account in collections?

Statute of Limitations

I mean that the credit cards are not under SOL. I know what SOL stands for.

I am asking are these credit card accounts in collections? And yes that would make sense regarding SOL.

I thought her post was pretty clear. She is stating the SOL on these debts is 5 months away from expiration. I'm sure they are in collections but they are 5 months away from losing their right to pursue legal action.

It sounds like the ccds are in collections. But I did not want to assume so.

Chances are that the collectors cannot send any validation because it is very old. The older the better. I would honestly send the VOD letter but I would be tempted to send the SOL but I have a conscience and you are 5 months short.

CM RRR

Not really enough info to go on. I recomment a DV if you are still w/in SOL or Federal Reporting period. If both have expired, I move straight to the FOAD.


Dear Collector,

I'm not going to pay this debt. EVER! If all the grains of sand on all the beaches in all the world said "Not gonna pay" in little red letters, it would not even begin to describe how much I am not going to pay. Cease your collection efforts.


Love,

ND


Wrote one in crayon on a blank Thank You card once.

The old credit card debts were bought by Asset, LVNV, and Capital.
The old debts are past the SOL in the state where I lived, previously, and where I opened the accounts. I live in another state where the SOL is longer, but, about to expire in five months.

Were they past the SOL before you moved? If so, then SOL would not reset because you moved.

No, they were not SOL before I moved.

Nascar,

Wonderful! I love your idea!

P.O.W.,

We need to know what state you are in, and what state was the debt in. Some states freeze the SOL ticker if you leave the state, so if that was the case then it would likely go by your current state's SOL.

Barbara,

And I would safely say that if the account is nearly 5 years old, the chance of it NOT being in collections is about the same chance as getting struck by lightning, so it is safe to assume that they are in collections - probably have been through numerous agencies already.

I moved from TX to NM.

SOL in TX is 4 years from date of last payment and SOL in NM is 6 years. When were your last payments and when did you move?

I moved in 2001, and I quit paying on the cards in Oct. 2003.

what if your cc debt has gone past the SOL, but the collection agency sues and wins? What can you do then? I was not at the court hearing.

Why weren't you at the hearing? Were you served?

If you didn't know about it, then you were probably improperly served, and you can call the county court where the case was held and file a Motion to Dismiss due to Improper Venue. Failing that, you would need to get an attorney as you need legal advice.