Determining date for calculating SOL
Date: Wed, 04/26/2006 - 23:38
The account was transferred to Portfolio Recovery in Feb. 2004.
The CA told me that my SOL had NOT expired because they did not receive acct until 2004 and that is "when the clock started ticking" (his words).
I think that is wrong!
Should I dispute this with credit reporting agencies or jsut wait for them to try to file suit against me and then use that info to have the case dismissed?
Confused!!!
Hi Texasgal You need to inquire with Providian and know the l
Hi Texasgal
You need to inquire with Providian and know the last payment received by them. If they have posted the amount you paid in April 2002, the SOL period will begin from that date. Check the laws in your state and know the time period after which the SOL expires. The CA is wrong with their statement. Don't get misguided by them.
You can also take the help of the credit bureau and insist them to investigate the matter. They will verify the details and update your file, if required.
Check your credit report for the date of last activity. This is
Check your credit report for the date of last activity. This is where the SOL begins, not when some CA gets the account. If your last date of activity is April 2002, it is already, if not days, out of SOL in Texas. Indeed, it will be out of SOL before they can bring any suit against you.
Send a letter demanding validation of this alleged debt. In Texas this can be disputed any time, not just the "30 days" on the collectors letter. Send Certified (return reciept). In Texas the collector must send you verification within 30 days, or remove any remarks on things such as your credit report. Also, in Texas law, the collector must -provide you with the materials- to dispute the debt. In your letter, remind them of the Texas Debt Collection Act. If they don't comply report them to the Texas Attorney General. He dosen't play games with collectors, and many a collector has been known to lose their license in Texas.
Texasgal, I forgot to mention, dispute ths with the collector
Texasgal,
I forgot to mention, dispute ths with the collector, as well as the credit reporting agencies. If your only dispute with the credit reporting agencies, probably nothing will happen. They simply send an email to the collector, and the collector responds "yes she owes this to us", and the credit reporting agencies tell you it is "verified".