SOL period made active by payment

hi Bossy44!! first off, have you had a look at your credit report lately??? you should be able to look at it and tell when the SOL is up. Look over the time the account was closed and if it shows any recent activity. When was the last time you paid anything on it? Yes since the debt was in 1982 it is well out of the SOL but if you've started making payments, most likely it has reset itself. you can check over your credit report and see if it shows any recent activity and if the account has been updated. Shirley

Yes, unfortunately I have made payments , maybe 2 in last 6 months. thanks TT fan for your help

Bossy44, be regular in paying the debt and avoid all the legal actions. Next time, be sure to check the SOL period on any debt before you make a payment. The present debt was also out of the reporting time as per the FCRA and it should have been removed from your CR, but your payment has made this account active yet again. Pay it off and become debt free.

You're welcome. But do you have a copy of your credit report? You can look over it to make sure. I mean, by some fluke maybe its not been updated. never hurts to check. Before you made these two payments, did original creditor or collection agency contact you? I mean, what made you decide to start sending money to them after all this time?
Make sure you check your credit report to see if they have reported this. If they haven't and you're not hearing from anyone, if I were you, I would stop and not send them anything else. surely a debt from 1982 wouldn't still be on your credit report--unless they are reporting again since you made two payments. The SOL is way out on debt and on credit report---unless they have started reporting again. If they're not on there, then if I were you, I wouldn't send anything else and wait and see what happens. But if you're hearing from someone on these accounts, its probably too late and you will be stuck with paying the debt, from SOL being renewed.
Shirley

That's right, as Shirley said, it's very important to track this account first in your credit report and the company reporting it.

Or, it might also be possible that the company whom you paid the debt has taken money from you and not reported in your CR. But, if you stop paying them, they will threaten with hitting your file. Get your debt validated first to know they are the actual holder of this account and your money is not going wasted.

Tell us more on this whole situation so that we all can come up with some perfect suggestions.

Oh you are soooo right David!!! This account is so old, how do we know that the money isn't just going into someones pocket and wouldn't be renewed or reported anyways.
Bossy, I stand by what I said, don't send them any more money until you do some investigating on this. Get a copy of your credit report and see what they say is going on first. I know you don't have money to just flush down the toliet---but in this case, this could be what you're doing. Do let us hear more from you concerning this matter. good luck!!! shirley

thanks, shirley and david for all the help. they are saying i have until this afternoon to give them a check over the phone or some other payment or they will file judgement and wage garn.

Bossy, like Shirley and I said earlier,
[list=1]

Quote: