Portfolio Recovery Associates and SOL Debt
Date: Mon, 04/12/2010 - 11:25
I am not sure what to do at this point. I know the debt is SOL and they can't collect. I am afraid that if I pay them it will reset the SOL and end up on my credit report. I am afraid that if I write them a letter about SOL, it will only piss them off. AND I am afraid that if I just ignore them, they will sue me.
What should I do? What is my best option? Please help.
Thank you!
Quote:Originally Posted by AnonymousI received a letter from PRA
Quote:
Originally Posted by Anonymous I received a letter from PRA about a Discover account from 16 years ago. They offered me a settlement. I have checked my credit report and its not on there nor has it been on there for the past 7 years. I am not sure what to do at this point. I know the debt is SOL and they can't collect. I am afraid that if I pay them it will reset the SOL and end up on my credit report. I am afraid that if I write them a letter about SOL, it will only piss them off. AND I am afraid that if I just ignore them, they will sue me. What should I do? What is my best option? Please help. Thank you! |
Once the SOL is out of date the collection agency doesn't have a legal leg to stand on. So if you send them a letter stating that the debt is 16 years old and well outside the bounds of legal collection activities I don't think it will piss them off in the least. Even though you still may owe the monies.
Don't even mention SOL...that in way may be used against you and
Don't even mention SOL...that in way may be used against you and they can try to write off the debt and force you to pay taxes on it by your getting a 1099 on it.
If you owe this debt and want to pay it, make them prove they have the legal right to collect and that they are collecting the correct amount. If they can't prove you owe them, then they are out of luck.
Send a debt validation letter asking for proof. I doubt they will be able to prove a debt that old or they will have tried to jack the interest rate or something.
You can also send them a total cease & desist letter telling them you want nothing to do with them and to not contact you again in any way, shape, or form.
So what if you piss them off?:p If they sue you, you can make them prove the debt is yours, which more then likely they can't and if worse comes to worse you can claim a SOL defense, but as I said, that is the last thing you want to do as you can be sent a 1099 for that one.
