Old debt 2005/Portfolio Recovery
Date: Wed, 01/23/2013 - 13:33
Need advice, I don't want to make another mistake....
State: Louisiana
I had a Capital One card in 2005, the limit was like $300. Paid a few times and then stopped, stupid kid.
Anyhow, last week, Portfolio Recovery called me wanting to settle.
The balance is now $1066.76. The last time I paid on this (to Capital One) was 9/2005. Portfolio Recovery bought the account 4/2009
They said they will do a settlement of around $450.00
Should I settle with them? If so, should I settle for $450.00 or less?
I really need some advice, I'm not sure what to do here.
Any help, thanks for reading :)
State: Louisiana
I had a Capital One card in 2005, the limit was like $300. Paid a few times and then stopped, stupid kid.
Anyhow, last week, Portfolio Recovery called me wanting to settle.
The balance is now $1066.76. The last time I paid on this (to Capital One) was 9/2005. Portfolio Recovery bought the account 4/2009
They said they will do a settlement of around $450.00
Should I settle with them? If so, should I settle for $450.00 or less?
I really need some advice, I'm not sure what to do here.
Any help, thanks for reading :)
The SoL in LA is 3 years for
The SoL in LA is 3 years for such debts which clearly goes to show that the debt is time barred. Just send Portfolio Recovery a C&D letter via CMRRR asking them to cease all collection activities and stating that under LA laws, the debt is time barred.
