Debt validation or sol?

Date: Wed, 04/14/2010 - 12:32

Submitted by Angeldove
on Wed, 04/14/2010 - 12:32

Posts: 225 Credits: [Donate]

Total Replies: 4

I'm learning a lot here and thank you all! I am also trying to help out a friend and would like to know which way to go with their issue. Should you go with the validation of debt letter or seeing that the JDB bought the debt in 2005 . . . should you forget the validation of debt and just tell them it is past the sol? The JDB is RJM Acquisitions.

I would send them a debt validation letter, in that letter I wou

I would send them a debt validation letter, in that letter I would include the fact they are past SOL. Make sure you KNOW for sure it is past the SOL. Keep checking back for more replies, I know there are people here who can advise you accurately how to determine the correct SOL, per state.

lrhall41

Submitted by Shazzers on Wed, 04/14/2010 - 12:40

( Posts: 17344 | Credits: )

Thank you so much! That was another question to - about sol in

Thank you so much! That was another question to - about sol in Georgia. I think it is now 6 years, but some people are still saying 4?

lrhall41

Submitted by Angeldove on Wed, 04/14/2010 - 16:11

( Posts: 225 | Credits: )

Well collection of debt on account is 4 years, signed contract i

Well collection of debt on account is 4 years, signed contract is 6 years. If the company wanted to try and say it was the 6 year, they would need the signed contract.

Definitely DV them first because you don't want to bring up SOL unless you absolutely must, because they can use SOL to write the debt off in taxes and you will get a 1099 and be forced to pay taxes on it.

lrhall41

Submitted by goldenbast on Thu, 04/15/2010 - 04:50

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Thank you so much! :D

lrhall41

Submitted by Angeldove on Thu, 04/15/2010 - 12:32

( Posts: 225 | Credits: )