Can the collection agency still collect
Date: Mon, 06/28/2010 - 16:57
If the original credit card debt was sold to a collection agency but SOL has expired, can the collection agency still try to collect? Is there a sample letter regarding original debt SOL expiration and request the collection agency to remove the debt from the credit report?
If the Statute of Limitations (SOL) has expired, the collection
If the Statute of Limitations (SOL) has expired, the collection agency can still try to collect the debt from you. However, they won't be able to win any lawsuit against you for non payment of dues. Expiry of SOL does not make the debt uncollectible. It does not even mean that the item will get removed from your credit report.
Negative items remain on your credit report for 7 years, after which it will fall off from your credit report. Only if the item stays on your credit report after the 7 years, you can dispute the item with the credit bureaus. So, you need not send an expiration of SOL letter to the collection agency to remove the debt from your credit report.
