SOL?? and Valid ltr?

I will try to explain this. SOL means statutes of limitations. All states have their own SOL. Depending upon the date of last payment, the state has its fixed statutes within which the debt is legally collectible. Once the term expires as per your state laws, the companies cannot force you legally to pay the amount. They might file a case against you at the court, but this won't help them in getting their money back because the debt is legally past the SOL.

Under such circumstances, you should ask for a debt validation from the company so that you know about their practice to be legal. If they don't give you anything in writing, send a cease and desist letter. This will stop them legally from making further contacts with you.

After they send you something in writing, you need to send a letter notifying the expiry of the SOL. Edit this sample letter as per your situation. Send it through certified mail with return receipt requested. They will sign the green copy and it will be your proof of the actions taken in this direction.

[quote]Expired Statute of Limitations Notification Letter

Today's Date

Your Name
Your Address

Collector's Name
Collector's Address

RE: [insert account number or name of account or name of debt]:

Dear [insert collector's name or company name],

This letter is in response to your [letter dated xx-xx-2005] (copy enclosed) or [phone call on xx-xx-2005], concerning the collection of the above referenced [account or date].

I do not believe I owe what you say I owe therefore I dispute this debt. I am well aware of my rights under the Fair Debt Collection Practices Act (fdcpa) and my state laws so I hope to save both of us a great deal of time by letting you know that not only do I dispute the validity of this debt, I have also checked with my State Attorney General and verified that the Statute of Limitations for enforcing this type of debt through the courts in (insert your state or the state in which the contract was signed) has expired. Therefore, should you decide to pursue this matter in court I intend to inform the court of my dispute of this debt and that the "statute of limitations" has expired.

This letter is your formal notification that I consider this matter closed and demand that you, or anyone affiliated with your company, stop contacting me regarding this or any other matter except to advise me that your debt collection efforts are being terminated or that you or the creditor are taking specific actions allowed by the FDCPA or my state laws.

Be advised that I consider any contact not in accordance with the Fair Debt Collection Practices Act a serious violation of the law and will immediately report any violations to my State Attorney General, to the Federal Trade Commission and, if necessary, take whatever legal action is necessary to protect myself. Be advised that I tape record all phone calls and violations of the FDCPA can result in you or your company being personally fined up to $1,000 per incident.



(Sign above name)
Printed Name [/quote]

Thanks so much!!!! How do I find out what the SOL is in my state? And if it hasn't expired can I use that sample letter?

In which state do you live? The above sample letter is to be used only when the SOL has expired. It won't work if the debt is within the statutes. Find out the date of last activity on your account and compare it with the statutes of your state.