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  1. Staute of limitations on debts ◦British Columbia – Section 3 (5) of the BC Limitation Act sets 2 years as the limit for debt, 10 years if there is a judgement. ( does not applied to secured transactions ) http://www.bclaws.ca/civix/document/id/complete/statreg/12013_01#section3 NewAct will only apply to claims discovered after June 1, 2013 ◦Alberta – The Alberta Limitations Act sets 2 years as the term which is extended to 10 years if there is a judgement. ◦Manitoba - Limitation of Actions Act, C.C.S.M. c. L150, s. 2(1)(g) sets 6 years as the limit for debt. ◦New Brunswick – Limitation of Actions Act, S.N.B. 2009, c. L-8.5. sets 2 years as the limit for debt. 15 years if there is a judgement. https://www.canlii.org/en/nb/laws/stat/snb-2009-c-l-8.5/latest/snb-2009-c-l-8.5.html#sec6 ◦Newfoundland and Labrador – Limitations Act, S.N.L. 1995, c. L-16.1, ss. 5( ; 13; 14. sets 2 years as the limit for debt. ◦Nanavut - Limitation of Actions Act, R.S.N.W.T. 1988, c.L-8, s. 2(e). sets 6 years as the limit for debt. ◦Nova Scotia – Limitation of Actions Act, R.S.N.S .2014, . sets 2 years as the limited for debt for claims after 2014 - 6 years still applies for prior actions. http://nslegislature.ca/legc/bills/62nd_2nd/3rd_read/b064.htm ◦NWT – Limitation of Actions Act, R.S.N.W.T. 1988, c. L-8, s. 2(e). sets 6 years as the limit for debt. ◦Ontario - The Ontario Limitation Act of 2002 , came into force on January 1, 2004. It sets 2 years as the term (Section 4). However, this limitation will be reinstated where the debtor acknowledges the debt or makes a partial payment towards the debt. If the debt default occurred prior to January 1, 2004, the creditor will have 6 years to pursue the claim. However, if the default occurred after January 1, 2004 then the credit will just have the 2 year limit. ◦P.E.I. - Statute of Limitations, R.S.P.E.I. 1988, c. S-7, s. 2(1)(g). sets 6 years as the limit for debt. ◦Quebec – Civil Code of Quebec, S.Q. 1991, c. 64, art. 2925. sets 3 years as the limit for debt. ◦Saskatchewan – Limitations Act, S.S. 2004, c. L-16.1. sets 2 years as the limit for debt. ◦Yukon – Limitation of Actions Act, R.S.Y. 2002, c. 139, s. 2(1)(e), (f). sets 6 years as the limit for debt. ◦Federal – Section 32 of the Crown Liability and Proceedings Act sets 6 years as the limit for debt. Consumers, however must be careful when dealing with the statute of limitations regarding debts at the Federal or Provincial Government level. These include student loans, child support, taxes and alimony. Please be aware that there may be tolling issues on these statutes , please check your .gov website for these. Debt collection Laws and Licensing acts Collection Agency Licensing Statutes by Province and Territory Province or Territory Name of Licensing Statute Alberta Fair Trading Act British Columbia Business Practices and Consumer Protection Act Manitoba Manitoba Consumer Protection Act New Brunswick Collection Agencies Act Newfoundland Collections Act Northwest Territories Consumer Protection Act Nova Scotia Collection Agencies Act Nunavut Consumer Protection Act Ontario Collection Agencies Act http://www.sse.gov.on.ca/mcs/en/Pages/Personal_Finance_Collection_Agency_Rights.aspx Prince Edward Island Collection Agencies Act Quebec An Act respecting the Collection of Certain Debts Saskatchewan Collection Agents Act Yukon Consumers Protection Act
  2. I have a 5 year old cred card debt originally with Citibank. Last acclivity was 8/2009. They never tried to collect. It has been sold a couple times and re-aged by some company to 4/11/2011, I'm in Iowa and not sure what the SOL is now. My ex wife ran that up and ran out on me and left me with nothing. Any advice?
  3. The Master Understanding SOL and 7 Year Reporting Thread There is often much confusion on SOL, restarting SOL, and the 7-year/ 7.5-year rule for reporting. Hopefully, this thread can be of some help and answer some of your questions. I will discuss SOL and Credit Reporting separately, so some of your questions not answered in the first part may be answered in the second. This info in this thread is generally aimed at credit card debt, but the basics may apply to other debts. If there is anything I missed please feel free to add to the thread and if you find that I made a mistake, please let us know and please try to provide information (sources) about the correction, if possible. Statute of Limitations Sol (Statute of Limitations) - This refers to the amount of time a creditor or debt collector has to legally sue you for the debt. The SOL starts from the month of the Date of First Delinquency (DOFD) (usually a 30 date late) that leads to the charge-off (CO) of the account. The SOL varies from state to state and varies by type of debt. The Terms and Conditions of agreements and some state’s Tolling laws can also affect the SOL. The SOL does not refer to the amount of time something can stay on your reports. We’ll discuss reporting timelines later on. Can the SOL change? Yes. The SOL can change if you have made a payment towards the debt or if you agreed to a payment plan (usually in writing). This can very by state and is too detailed for this thread. Can a debt owner sue me after the SOL has past? Yes, but it’s unlawful. If a creditor or debt collector sues you after the SOL has past, you can go to court and use the SOL as a affirmative defense in that case. You may also hear the term “Time-Barred” when it comes to using the SOL affirmative defense. A creditor or debt collector can still sue you and obtain a judgment against you after SOL, if you do not show up in court and present your defense. There are ways to fight that but we will not discuss that here. You should always consider contacting an attorney if you have been sued before or after SOL. Per the CFPB: “It's against the law for a collector to sue you or threaten to sue you on a time-barred debt. If you think a collector has broken the law, file a complaint with the FTC and your state Attorney General, and consider talking to an attorney about bringing your own private action against the collector for violating the FDCPA.” https://www.consumer.ftc.gov/articles/0117-time-barred-debts You can read more about Time-Barred, Tolling, SOL and resetting SOL here: http://www.nolo.com/legal-encyclopedia/time-barred-debts-when-collectors-29805-2.html How to respond to a lawsuit that has been filed beyond SOL for credit card debt (open accounts): http://whychat.5u.com/answer.html Debt collection laws by state: https://www.privacyrights.org/fs/fs27plus.htm Does the furnisher of information to the credit reporting agencies (CRA) have to delete a Tradeline (TL) when the SOL runs out? No. If the TL is within the FCRA reporting statutes, but past the SOL, it can still remain on your credit reports. We’ll discuss this more later. Will paying a debt that is past the SOL improve my credit score or remove the negative information from my reports? Probably not and no (but keep reading). The SOL does not have any affect on the way a TL is reported on your credit reports. Paying a debt after an SOL has passed can often make your credit score drop because you have made the TL activity more recent. In other words, it makes the negative information appear more recent. The only way to ensure that negative information is removed from your reports after SOL has passed is by negotiating it’s removal by both parties agreeing to a Pay-for-Delete (PFD); by waiting for the TL to fall off your reports; or if the information is being reported incorrectly and you successfully dispute it. If your PFD is not in writing, then consider that you don’t have an actual agreement for it to be removed. Never pay a debt after SOL without this agreement and try to also negotiate for this if you pay before the SOL has past. Credit Reporting Credit reporting statutes (what can be reported on your credit reports and for how long) is determined by the Fair Credit Reporting Act (FCRA). How long can negative information related to a Charge Off (CO) be reported on my credit reports? To help answer this let’s first look at part of the FCRA, which can be found at this link starting on page 29 section 605: http://www.miller-law.net/pdfs/FCRA.pdf © Running of reporting period (1) In general - The 7-year period referred to in paragraphs (4) and (6) of subsection (a) of this section shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action. What this means is that negative information that lead led to a charge off (the 30-180 day lates) can be reported for 7.5 years and the charge off can be reported for a maximum of 7 years. This is why you hear about the 7-year and the 7.5 year debate. Read this for more detailed information: http://consumercreditwatch.wordpress.com/2012/09/28/fcra-time-limitations/ Let me provide a detailed example that will attempt to put all of this together for you. It may help if you write down dates and events on paper to get a clear picture. This example involves a charged off credit card debt for someone living in California, where the SOL for open accounts is 4 years. Say you opened a credit card in Jan 2008 and your first missed payment (30 day late) was reported Jan 2010 (in other words your last payment was made in December and a 30 day late appeared on your reports in Jan). You never made another payment and the card was charged off in June 2010 (about 180 days later). Your date of first delinquency would be Jan 2010 and that can't change. Since the SOL (to file suit) for California is 4 years, the OC or the CA has until Jan 2014 to be able to file suit to force you to pay. Let's say the OC sold the debt to a CA in Jan 2012, the CA is still bound by the same SOL as the OC as long as you haven’t made a payment or entered an agreement to pay. If the CA doesn't sue you before Jan 2014, then they can't legally sue you for it, BUT they can still report it and try to collect from you. The CA can still report a balance and the trade line until June 2017, which is 7.5 years after the DOFD. The OC can also still report the trade line, with a zero balance if sold to the CA, until June 2017. (I’ll go over this again after this example.) Just because the CA bought the debt in Jan 2012 doesn't mean that the SOL has been reset and they have 4 years from the day they bought it to sue you. They still only have until Jan 2014 to legally sue. Just because they bought it on Jan 2012 doesn't mean that they can report it for 7.5 years from that date. They are still bound by the reporting limit of 7.5 years from the original DOFD of Jan 2010. If a CA, OC or CRA were to continue to report it after June 2017, you could sue them for FCRA violations. If the CA bought the debt in Jan 2012, as mentioned earlier, and in Jan 2013 you made a payment to them for the debt (even $1), agreed to a payment plan, or you agreed that the debt is yours; then you could have reset the SOL. If your actions reset the SOL, it would mean that they now have until Jan 2017 (a new 4 years). The new 4 years starts on the day you made the payment or agreement to pay (again this can vary by law and what may have caused the Sol to restart). Even if this happens, they can't continue to report the debt past the original DOFD, which is still June 2017. Can the SOL extend beyond the reporting period allowed for a charge off? Yes. One reason is that your state has a longer SOL than the 7.5-year reporting period. Some examples are: Montana (8), Wyoming (8), Iowa (10), and West Virginia (10); however, this could vary according to the card agreement and case law for that state. More info on credit card SOL by state: http://www.creditcards.com/credit-card-news/credit-card-state-statute-limitations-1282.php Another reason is in this example: Don’t read this part if you don’t understand the example above because it may confuse you further. Just to throw a wrench into the mix, it is possible to extend the SOL so it goes past the allowed reporting period of 7.5 years. How? If you agreed to a payment plan as a resident of California say at the 3 year-11 month mark, and paid on it for 6 months, you could be potentially be sued after the 7.5 year reporting date because you reset the SOL to the month of your last payment under the payment plan agreement. Even though you may have extended the SOL they still can’t report the CO after the 7.5 mark from the original DOFD. If you’re sued after this reporting period has passed, but within SOL, they can place a judgment on your report, if awarded by the court. Judgments have their own reporting guidelines. So the thing to take from this is that you can be sued for something that is no longer being reported on your credit reports and the last payment made in a repayment plan (if you didn’t complete the plan) restarts the SOL at the month of the last payment. Can the DOFD change? No. Even if a debt is sold to a collection agency (CA) or a junk debt buyer (JDB) the DOFD from a CO does not ever change. Can the DOFD change if I make a payment on the debt? No. Again, once the DOFD is set, it can’t be changed by the OC, a CA, or a JDB. Paying on a debt effects the SOL, not the DOFD of a charge off. Can a CA and the OC both report negative information about the same tradeline? Yes. What varies is how it’s reported. If an OC has assigned a debt to a CA, either in-house or third party, both the CA and the OC can report the TL and both can report a balance. Why? Because the OC did not sell the debt to the CA, the CA is working to collect on behalf of the OC and not themselves, although they make money off of the collection. The amounts reported by each in this situation can be different because the OC can only report the original CO amount and the CA can report the CO amount, as well as fees and interest. If the OC sold the debt to the CA, the OC must report a zero ($0 or blank) balance and can continue to report until the 7.5-year mark from the DOFD. Once sold by the OC, the Sol no longer applies to the OC TL but can still apply to the CAs right to sue. Once a debt is sold, the OC is completely out of the picture. Can I get a negative TL removed before the end of the 7.5-year reporting period? Potentially. There may be several ways but the main one I will discuss is an Obsolete dispute. An obsolete dispute can be attempted up to 6 months before the expected fall-off date; however, they are usually more successful about 2-3 months before that date. This type of dispute can be successful because the CRAs don’t want to be caught reporting a TL past the 7.5-year mark, which is a violation of the FCRA. They would rather delete than risk going over that mark just in case the furnisher made an error in the date. This is not everything you need to know about SOL and FCRA reporting guidelines but it should get you started.
  4. I have been trying to clear up DH report. I received a letter from LVNV attempting to collect. These are our facts: Date opened: 3/6/2008 DOFD: 5/2008 C/O: 11/2008 Account was opened, used, closed and past SOL in FL (SOL is 4 years) We moved to IN after it went past the SOL in FL but it is also past the SOL in IN (6 years) The OC account is scheduled to fall off 03/2015 LVNV funding started reporting on 11/17/2008 (TU) and 11/01/2008 (EX, EQ) Should I just ignore their letter and let them fall off in a year, or could I send them a letter back for trying to collect on an account that is past the SOL. Should I dispute with CRA first with this http://whychat.5u.com/initdispltrsol.html and the with CA with this? Thank you in advance
  5. So here is our timeline... OC: Cap One 3/6/2008 opened 5/2008 DOFD 11/2008 C/O <Account opened, used, charged off in FL. SOL went past while a resident of FL (4y)> <Moved to in AFTER all the above and SOL is still past in IN (6y)> 10/08/14 Sent the first letter to CRAs mentioning the OC and the CA account ( http://whychat.5u.com/initdispltrsol.html ) 10/16/14 TU deleted everything (yay) 10/17/14 EX removed only the OC 10/27/14 EQ removed only the OC 10/27/14 Sent the letter to the CA ( http://whychat.5u.com/nottoca.html ) 10/30/14 It was received 11/01/14 <------ LVNV updated the EQ file and also added about 8$ to the total 11/03/14 The second round of letters went to the two CRAs ( http://whychat.5u.com/nottoca.html#FOLLOW ) 11/07/14 They were delivered 11/20/14 <------ LVNV updated the EX file and also added about 8$ to the total Should I send another letter to LVNV?
  6. Good Evening. First, I'd like to say how thankful I am that I found this site. All this time, I've thought the SOL for Tennessee is 7 years. I have been patiently awaiting January 2015 to file a dispute to have 2 medical accounts removed from my CBR. However, I just found out the SOL is actually 6 years in TN. A few years ago, I disputed them a few years ago with the CA and they never responded. I forgot about them until I recently received copies of my reports. Does anyone advise that I go directly to the EQ and TU website to dispute the accounts or is it imperative that I follow the SOL program instructions on this site? The following accounts are being reported to EQ and TU only (the info is the same on each report). Any response will be greatly appreciated. Date Reported: 03/2013 Date Assigned: 12/2009 Creditor Classification: Medical/Health Care Creditor Name: BMH MEMPHIS Accounts Number: 76XXXX Account Owner: Individual Account. Original Amount Owned: $109 Date of 1 st Delinquency: 06/2009 Balance Date: 03/2013 Balance Owned: $109 Last Payment Date : N/A Status Date: 03/2013 Status: D - Unpaid Comments: Medical Date Reported: 03/2013 Date Assigned: 02/2009 Creditor Classification: Medical/Health Care Creditor Name: BMH MEMPHIS Accounts Number: 72XXXX Account Owner: Individual Account. Original Amount Owned: $530 Date of 1 st Delinquency: 09/2008 Balance Date: 03/2013 Balance Owned: $534 Last Payment Date : 11/01/2010 Status Date: 03/2013 Status: D - Unpaid Comments: Medical
  7. My apologies if this gets long. In 2003 we had a boat reposed. We had been paying a small amount each month towards the balance that was left after they sold it (which was a lot over $10,000). We were doing this through an autopay. There was a mishap in the autopay and it hadn't been coming out. Now this balance has been turned over to a collection agency (Mountain State Adjustment if anyone is familiar). I talked to them for the first time today and they want $12,900. I cannot even imagine there was that much left on the balance so I am not sure where that number is coming from. I was planning to send a validation of debt letter. Is that the right course to take here. They are expecting me to call them back on Friday. I told them we don't have access to that kind of cash. He said they pulled our credit report and it is good enough we should be able to get a loan. I am also wondering if this is outside the statute of limitations for my state. I looked it up and it appears to be 6 years for written contracts. What are your suggestions. The guy on the phone was very rude. Thank you in advance.
  8. Had a collection with Midland pop up for an old Orchard Bank card. Account was outside SOL, sent FOAD letter. Below is the response I received: ___________________________________________________________________________________________________________________________ Dear David, The purpose of this letter is to advise you that you did not provide sufficient information to investigate your dispute of the credit reporting of your above-referenced account pursuant to the Fair Credit Reporting Act. We understand you are disputing the accuracy of our records concerning the above referenced account. After reviewing the information you provided, as well our own account notes, and information provided by the previous creditor, we are unable to determine the nature of your dispute, and consequently deny that our records are incorrect. In order to further investigate your dispute, we need additional information to help verify the basis of your dispute. Including a complete explanation of your dispute would be helpful. Further, copies of any documentation you may have to support your dispute. In the interim, we have requested that the three major credit bureaus change the status of this account to “Disputed”. Examples of documentation we need or which would be helpful include the following: Paid in Full or Account Settled: a) a copy of the front and back of payment instrument with copy of settlement offer or statement showing balance and account number; a copy of the paid in full or settlement letter showing account number. Fraud or Identity Theft: a) a copy of a police report; Federal Trade Commission Fraud Affadavit that has been filled out (which can be obtained at www.ftc.gov/idtheft); or c) notarized fraud affidavit. Balance Discrepancy: a) copy of contract that states rates for time frame of disputed service; a copy of bills or statements that show amount owed or rates; c) a more detailed explanation of disputed charges. In the meantime, as requested by you, we will no longer be contacting you regarding this account by phone or mail unless it is to further respond to a dispute by you under the Fair Credit Reporting Act. The account may still be reported on your credit report as unpaid. _____________________________________________________________________________________________________________________ So at this point, not sure what to do next. In the past, if one of these pesky ghosts popped up, a good slap always sent them scurrying back into the gutter. This time, Midland did as they said, and updated the listing with the three CRAs. Any suggestions? Thanks, Dave
  9. Written contract: 15 years, (O.R.C. §2305.06). 2305.06 Contract in writing. Amended by 129th General Assembly File No. 135, SB 224, § 1, eff. 9/28/2012. Except as provided in sections 126.301 and 1302.98 of the Revised Code, an action upon a specialty or an agreement, contract, or promise in writing shall be brought within eight years after the cause of action accrued. Section 2. That existing section 2305.06 of the Revised Code is hereby repealed. Section 3. Subject to Section 4 of this act, section 2305.06 of the Revised Code, as amended by this act, applies to actions in which the cause of action accrues on or after the effective date of this act. Section 4. For causes of action that are governed by section 2305.06 of the Revised Code and accrued prior to the effective date of this act, the period of limitations shall be eight years from the effective date of this act or the expiration of the period of limitations in effect prior to the effective date of this act, whichever occurs first. Please note - according to case law that I can find, CC's are not considered written contracts unless they have a copy of the application with your signature on it. and Ohio has a choice of law and borrowing statute also - see the case law forum. The statute of limitations for promissory notes still remains six years pursuant to Ohio Revised Code 1303.16, and four years for contracts for sales of goods under Ohio Revised Code 1302.98.
  10. Hello - I would really appreciate some guidance with this. I have looked at all of Whychat's guides and prepared DV letters for the CA's, however looking closer, I read if DV's are sent within the SOL, then I could be sued. How do I go about getting this taken care of while within SOL? Does SOL start with the date of delinquency or with date of when it went into collections? We are in Florida, so I think SOL is 5 years for written contracts. I have one medical bill for $260, I honestly don't know what it was for exactly. I never got bills for it that I know of, though I did move around a bit in the past few years from getting married, moving to a different state and back, etc. so they may have gotten lost in the shuffle. I had the same health insurance for about 8 years, but I no longer have it with the same company and am not able to retrieve information from previous claims or denials of claims. I have contacted my previous insurance company to see what I can do to get this information, but have not heard back. It is reported with all three agencies - with Transunion it was placed for collection in August of 2010, but updated July 2014, with estimated month and year that this item will be removed as 2015. With Experian it has date opened Aug 2010, last reported July 2014 and it says the account is scheduled to continue on record until 2015. With Equifax it has the date of first delinquency as 2008, date reported 07/2014 and date assigned as 08/2010, with no mention of when it should be deleted. Should I just wait out the year until it is removed from the reports or should I do something about it now? My husband and I are trying to get a loan and I would like to fix this dirty spot on my credit report so we can first of all get the loan at all and if we do so we can get a better interest rate. I'm afraid if I stir up "trouble" that it will come back and bite me somehow. Any advice?
  11. I was preparing to send a FOAD letter to Midland regarding an old HSBC account. The DOFD was May 2009. What worries me is I currently reside in Maine, where SOL is 6 years. HSBC account was Nevada (4 Years). HSBC accounts were acquired by CapOne in Virginia (3 years). I was living in Pennsylvania when the account was opened (4 years). Surely moving to a state with a longer SOL, after the SOL had already passed, does not suddenly reopen the window for litigation? How do I know what applies?
  12. Does anyone know how a cell phone bill is classified? I have been googling for days and have yet to find a clear answer. The statue of limitations in my state is 10 years for written contracts and 3 years for open accounts. I have a 3.5 year old cell phone bill in collections (Midland) and I desperately need to know if the SOL has run out on this. Thank you.
  13. So I started this process back in 2009, having some luck, but due to disability and medical, I never was completely successful. However, on another note.... have a baddie from a utility company. I was successful years ago in having it removed from all but one credit bureau. Its past SOL for state, and I really want to have it removed as I want the best rate for a new mortgage. I have had letter templates saved for years but cannot seem to find what I write to OC and CRA when its past SOL. Now heres the catch, its past SOL for state, but not past 7 1/2 yrs for reporting to CRA. Do I have any hope? And for everyone, I have looked, searched in search box for SOL letters or advice, cant find anything that pertains directly to my issue. Any advice, steps, or just point me to a round about letter I can use as template so I can mold into what I need would greatly be appreciated. Thank you so very much! oh ps: its a chargeoff in negative closed accts, not an active collection
  14. My brother, who lives in Albany NY has a couple of old charge off accounts approaching the SOL for NY state (6 years). HE showed me his credit report and it read date of first delinquency 9/2008. Most are small under $1000.00 but one from Cap One is 7K. He hasn't been contacted by any of them, but he moved a few times and hasn't worked. HE credit reports have old addresses on them. So what to do? I don't see that the big one has been assigned to any collection agency (not showing on his report). What are the chances that the SOL will pass in 2 months? Anyone have any advice?
  15. A rep from Fisher & Burns LLC in Orange County contacted my work place asking for procedures to on how to serve me today. They left their phone number and my case number with the principal's secretary of where I teach. I called them back during my break and they said they had someone in Napa, CA to serve me BUT if I wanted 24 hours to review to request to settle they would send me an email. I said "Okay". It is for a Chase Account that first went delinquent in April of 2007 and again in June of 2007. Max Delinquency of 120 Days in 09/2007. Account Closed 12/2007. As far as I know the SOL in CA is 4 Years. My Transunion Report from Transunion says it will be deleted in March 2014. I can't see where they have any authority to collect and issue wage garnishment as they mentioned on the phone. Has anyone else had any interaction with Fisher & Burns LLC in Orange County, California? Many Thanks, Swedishhands This is the email they sent today: FBF FISHER & BURNS FINANCIAL LLC 3419 E Chapman Ave Suite 500 Orange, CA 92869 Phone (866)717-6553 Fax (657) 235-6100 Direct Line 657-235-6106 THIS IS AN ATTEMPT TO COLLECT A DEBT BY A DEBT COLLECTOR AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. September 17, 2013 * RE: Original Creditor: CHASE Bank USA, N.A. Original Account: ACT#: 414.............. Account: 16................ Balance: $10,240.37 As of September 17, 2013, FBF is prepared to offer options in resolving the above referenced account: 1. $1500.00 down and $200.00 per month until balance of 10,240.37 is paid in full 2. . $8704.31 in 3 payments of $2901.43per month (Sept/Oct./Nov) 3. $5632.20 one lump sum settlement Funds must be represented by 09/18/13 and dated on or before 09/27/13. There is no grace period. If funds are not received in our office by the due dates, this agreement will be considered NULL and VOID. Once the funds for the above referenced account have cleared your bank, FBF will release you from all claims and liabilities pertaining to this account and our trade line with the major credit bureaus will be updated accordingly as paid in full. If you are unsure whether the payment will be received in our offices on or before the due date, you may contact the undersigned Account Manager to obtain instructions for sending funds via CREDIT CARD or CHECK. Please feel free to contact us at any time if you should have any questions regarding your account. Sincerely, Megan Owens Director of Operations Fisher & Burns Financial
  16. Hi All, Im hoping someone can provide me some guidance here.. I had an old account from Juniper from 2006. I had 2 CA's (LHR and Ascension) trying to collect on this in my report. I DV'd both of them last month and disputed with the CRA's and the entries are now off my Credit Reports. However, I received 2 letters from one of the CA's (Ascension) attempting to validate this debt. They included the ff. information per my DV letter: Original Creditor: Juniper Bank Current Owner of Account: Ascension Services Ascension ID: 114xxxxxxx (listed their ID i just x'd out some info intentionally) Original Account Number: 5148xxxxxxxxxxxxx (listed full account number) Last Payment Date at creditor: 4/16/07 Open Date: 10/26/06 Principal Balance: $1,162 Interest Balance: $1,170 Total Balance: $2.332 it is signed as: Respectfully, Customer Services Ascension Services, LP The original DV letter I sent last month listed my current address on the header yet they sent the 2 letters as a response to my parents old house in Illinois which they no longer live in for about 9 months. The post office forwarded the letters to my parents new home in PA which they then forwarded to me in CA. The DV letter i sent explicitly and clearly listed my new address in California which i told them to use for any correspondence with me yet they sent 2 response letters to my parents old home that i have not lived in for over 15 years!! Are they intentionally doing this for some reason?? My questions are: - Is this debt out of SOL and can they legally report it again to reflect in my CR's? (Debt was incurred while living in Illinois. I have since moved to California since 2011.) - Are they able to sue me for this debt? - What can i do to prevent these guys from coming after me again? Any insights or advice you guys can provide would be greatly appreciated. Thank you in advance for your help!
  17. I have been trying to get a correct, legal answer to this question. I have several zombie TL's on my reports which come back verified (thanks Experian and Equifax). Various online sites say reporting zombie debt (debt known to be outside of the statute of limitations) is illegal, while other sites that debt can remain on credit reports for 7 years. Is there a straightforward answer to this? Thanks.
  18. Lgarc13

    SOL

    I lived in AZ from 08-11 and moved back to TX. I had incurred some bad debt there and now have questions about the SOL. Do I go by TX sol or AZ? The debt was a school loan, utilities, and a medical. I mistakenly sent a dispute to CRA without reading whychats method. Purchased in vehicle in TX and it was repoed in AZ, what sol should I look at? All of the info on CB can sometimes overwhelm me. Any help would be appreciated. Thanks
  19. Please Note, this is a bill passed by the NY Assembly, it has not been passed by the Senate yet, it has been presented twice before but has not passed.... New York Assembly Passes Debt Collection Bill; Also Lowers Statute of Limitations 34inShare Patrick Lunsford April 25, 2013 2 Responses The New York State General Assembly Tuesday passed a bill titled the Consumer Credit Fairness Act which significantly restricts the use of the legal collection channel in the state. In addition to a number of new requirements for bringing debt collection lawsuits, the bill would cut in half the statute of limitations in the state. “There is an epidemic of unfair debt collection lawsuits in New York State,” said Assembly Speaker Sheldon Silver. “In many instances, these actions are brought against low and moderate income New Yorkers who are not aware a lawsuit has been filed against them, leaving them with little recourse and ruining their credit for many years. Unfortunately, the justice system is being abused by unscrupulous third party debt buyers and harming vulnerable New Yorkers. This bill would institute several measures to address these abusive debt collection practices and combat this menace.” The Consumer Credit Fairness Act (A.2678) was introduced by Judiciary Committee Chair Helene Weinstein and passed the General Assembly on a vote of 90-45. If signed into law, it would curb abusive debt collection lawsuits by: requiring notice of a pending consumer credit action to be mailed to the defendants by the clerk of the court; requiring court filings to include more information about the debt targeted in a lawsuit, such as identifying the debt or account and providing proof that the debt is owed to the plaintiff; lowering the statute of limitations for consumer credit transactions from six years to three years, and eliminating the right to collect the debt once the statute of limitations is expired; and terminating the ability of debt buyers to sue on expired debt. “Abusive debt collection lawsuits exploit gaps in our state’s laws,” said Weinstein. “This bill takes important steps to close these loopholes to protect consumers and helps to address the long-term impact of economic abuse, including identity theft, which is often suffered by domestic violence victims at the hands of their abusers.” The bill was sent to the New York State Senate where it was referred to the Judiciary Committee for further action. The Consumer Credit Fairness Act has been introduced in previous sessions in the General Assembly. A nearly-identical bill passed the Assembly in both 2009 and 2010 but did not make it out of Senate committees.
  20. Good Morning Everyone, I just realized that the original creditors for my judgement are no longer listed. I know that in NJ the SOL for judgement a max of 14 years from original delinquent date but if my original creditor is no longer listed, how do i find this our? Do i go by the date of filing? Really need some help with this- I've been fighting to get this removed.
  21. I don't know if trying to improve my credit has stirred up the ugly monsters, but I received a letter from FNCB trying to collect for a debt with Sears. The last time I had a Sears card, I was 22ish???? I know that Sears fell off my credit back around 2006 so it must have had it's first delinquency around 1998 or 1999? What the heck are they trying to do? These are not on my credit reports any longer. Do I write up a FOAD letter and send it Certified Mail or do I just ignore this? I don't understand how they were able to come out of the darkness and start collecting on something so old... sounds like a scam to me.
  22. When the statue of limitation is up do I still have to pay off the bill in order for my credit score to improve. And I have things removed from my credit report will my score improve. What should I do?
  23. I am looking for some advice on one last derogatory mark on my credit report. I'm looking to buy a house this year and have worked to clean up my credit report. The last derogatory item on my report is $257 from an HSBC account in collections from July 2008. I am wondering if I should request PFD or just not worry about the amount and let it drop off next year. It should not interfere with securing the mortgage (I hope!!) My myFico score is 707 but, if I can just pay it off and have it removed from my report, I'd rather do that. I am not sure which strategy would be best for my score. Any advice would be appreciated!!
  24. I had a Capital one charge off in 2010 and it was sold to Portfolio Recovery Services recently (resulted into nearly a 20pt drop in my score since they are reporting, too) The SoL for this account is (I believe) in about 4 months . I am in Florida, and the last payment on the account was 06/2010. If the SoL is actually 5 years instead of 4, then I have another year left ;\ I do want to try PFD with Portfolio, but I don't want to risk getting sued and rocking the boat anymore. They call once every few days and I don't respond. I have received nothing in the mail. The amount owed is $988, and I really can't afford to pay in full. I know I have a better chance of PFD once the SoL has passed. Would you all advise me to ignore them in the mean time? So, I plan on doing a PFD after the SoL has passed. I also want to try sending a goodwill letter to Capital One seeing if they will remove any sort of negative marks on my report. (I have heard most people get denied, but I'd like to try anyway) My main question is, if I write Cap1 a goodwill letter, would they know whether or not I paid off my debts to the credit agency? Would they even care? My letter will state that I paid these debts, which isn't a lie because I *will*, but I'm not sure it'll be paid before or after Cap One reads/sees my letter. Hopefully this made sense, lol. Thanks for any help!
  25. Upon moving out of an apartment I received a letter stating that I was responsible for replacing the four year old worn out carpet. They were seeking $7092.00. I denied owing it and they sent the debt to a CA. My CR shows the status as collection/charge off. Opened 1/26/2009 Reported 6/21/2010 Term months Does this mean the SOL is up? Why does it say the term was "months"? What is my next move to remove this from my CR? BTW, I'm in VA.

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