Old Collection Letter
Date: Wed, 10/19/2011 - 04:27
Welcome to the forums!!! You are absolutely right. Since the SOL
Welcome to the forums!!!
You are absolutely right. Since the SOL period has expired, so the collection agency won???t be able to take any legal action against you. But this negative item will remain on your credit report for 7 years from the date of your first default. So it would be better to contact with the collection agency and negotiate with them. You may try to arrange a better repayment plan with them. Otherwise, you may get help from a profession debt relief company.
Please disregard Sandra's post. She is incorrect. Contacting
Please disregard Sandra's post. She is incorrect.
Contacting the collector to make payment arrangements can get this back on your report for 7 years from the date of payment.
If SOL has passed and this is not on your report, as you stated, send cease and desist letters and be done with them.
Be sure to send your letters via certified mail with a return receipt requested and hang on to the return slip when you receive it.
Quote:Welcome to the forums!!! You are absolutely right. Since t
Quote:
Welcome to the forums!!! You are absolutely right. Since the SOL period has expired, so the collection agency won???t be able to take any legal action against you. But this negative item will remain on your credit report for 7 years from the date of your first default. So it would be better to contact with the collection agency and negotiate with them. You may try to arrange a better repayment plan with them. Otherwise, you may get help from a profession debt relief company. |
sandra, read the OP's post again:
Quote:
I received a collection letter on a debt that is way past the SOL. This debt does not appear on my credit report. |
it already is not showing up on the report, so why would the OP have to negotiate a settlement because it would still be showing up?
The SOL serves a purpose, and if a debt collector cannot get their act together within the span of several YEARS to try to collect a debt, then in my book they dont have any business trying to get payment after the fact. They had plenty of time in which to try to collect, and for whatever reason they chose not to. Thats on them.
