Genesis Financial letter
Date: Tue, 05/30/2006 - 11:12
I tried to get out of it, and I really can't remember if I paid it, or paid some of it off. I have gotten collection letters over the years from 4 or 5 different agencies trying to collect. It seems like they sell it off to one another.
I don't know the exact date of this, but I got this card going on close to 10 years. What is the best way to handle this? I don't understand the SOL and even if that applies.
Thank you.
Has the CA given you any information about this debt account? Un
Has the CA given you any information about this debt account? Under the FDCPA laws, the details of the debt must be given to you in writing before the company attempts for collections. You might be interested in getting some information about the reporting in your credit file as per the FCRA laws.
Don't make any commitment to pay the debt until you have the proper details. If the company is making legitimate collections, the complete information about your account must be with them.
The Statute of Limitations is applicable when a debt account has not shown any payment activity within the stated period. The company cannot force you to pay the debt if the account is past the statutes. Usually, they insist you making a small payment so that the account becomes current and the SOL gets renewed. Check the date of last payment as well as the state where this account was opened. If it is past the SOL period, you will have to notify the company in writing. This will be a documented proof about the matter being taken care of.
