FMS trying to collect a time-barred debt by offering a CC
Date: Mon, 04/24/2006 - 19:39
Submitted by AZ Payday Loan Avenger
on
Mon, 04/24/2006 - 19:39
Total Replies: 2
Is this a new way to collect time-barred debts? An SOL letter going out tomorrow to FMS!! :twisted:
This is a popular tactic with some junk debt buyers. The name y
This is a popular tactic with some junk debt buyers. The name you mentioned seemd familiar, with maybe LVNV/Sherman.
These agencies send you a "credit card", then transfer an out of SOL debt to it. Then it restarts the clock, and they place this revolving account on your credit report. I'd send them a cease communications letter, and say "lets go to court".
You must not make even a small payment on such accounts. If you
You must not make even a small payment on such accounts. If you do so, the account will be brought back under the legal collection period and the SOL will lapse here.
Send a letter explaining the expiry of the SOL period. Also, inform them that they are legally restricted from reporting this account in your credit report as it is past the 7 years reporting period. If they do, you will have to hire an attorney specializing in the lawsuits of fdcpa and FCRA violations.
