Should I response or ignore Collection agency about zombie debt (old debt).
Date: Mon, 12/28/2009 - 14:40
I am hope you guys can help me some input here.
My situation: The collection agency tried to collect the debt in 2000 that I did not owe in 1998. Back then, It took me a while to clear all the negative item that they reported in Credit Report Agency. I thought, everything has gone for good. But it's not over yet. Early this month Dec 2009, I got a letter from Collection agency again try to collect the same debt in 1998.
My question is: Should I response to Collection agency state that the debt they collect is not belong to me? And also mention the Statute of Limitations has expired?
OR
Should I just ignore the Collection Agency letter? And don't care much about it because I did not owe this debt. In this case I afraid that they will re-age the debt and report negative item in my credit report and this will cost my time and money to clear it( I am not sure thay are able to do so?).
Please advise me what should I do? Which way that benefit me?
Thanks,
Tony
What state you are in? In most states the SOL on a credit card
What state you are in?
In most states the SOL on a credit card debt would run for 5-6 years. So most likely the debt has passed the SOL. IMO you can simply send them a cease and desist letter and call it a day.
Thank you for reply my post. I live in California. I will send
Thank you for reply my post. I live in California.
I will send them a letter state that the debt is not belong to me and also mention SOL date has expired in my state.
Tony
SOL is 4 years here in Cali.. That is from the last payment..
SOL is 4 years here in Cali.. That is from the last payment..
Collection agencies pay literally pennies for dormant old debt.
Yes, send the cease & desist. If they do reage the debt..it won
Yes, send the cease & desist. If they do reage the debt..it won't cost you anything in the long run as you can sue them because that is a violation.
