Old debt
Date: Wed, 01/05/2011 - 10:45
They are trying to collect on a debt from 1994. I live in Missouri and the debt was charged off in 2004. Last payment in 1995. Statute for this is 10 years. Is this from last payment made or charge off year?
Generally the SOL timeclock starts from the time of default. Th
Generally the SOL timeclock starts from the time of default. This is usually interpreted as the date of the first missed payment which sounds like was in 1995 so it would be past SOL. There is nothing to prevent a collector from trying to collect on an accout that is past SOL, they just can't generally sue for the same. Send them a C&D letter citing past SOL.
Seems odd that they waiting 9 years to charge off the account. What type of account is it and who are "they"?