Credit cards Charged Off 13 years ago, new company wants to collect

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Orionlvr

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Hi All~
I just found this forum and am wondering if someone can answer a question I have. Back in 1993, I was a single mother raising twin daughters. I had excellent credit and a great paying job before they were born. They were very sickly and I had to quit work to take care of them. Needless to say, I racked up quite a bit of credit card debt. My credit accounts were charged off and for at least 7 years couldn't get credit for a plug nickel. These accounts no longer show up on my credit report. My credit has since been restored.
Now, I received two notices from a "New Creditor" claiming I owe this back money.
Isn't there a statute of limitations on this? These accounts were charged off in 1993.
Now 13 years later, I get these notices? Does this constitute harrassment? I am presently on disability after two heart attacks and can no longer work. Will this start to show up on my credit report from this new Acquisitions Funding Company, which is located in New York?
TIA,
Debbie
 
If the accts were included in your BK then you should not them money.

If they weren't, then there really is not a SOL since the clock starts over as it changes collectors hands.

If you are on disability you might to see if you qualify for legal aid, they might be able to help you, or see if you can get an attorney to help you pro bono.
 
Duranie said:
If the accts were included in your BK then you should not them money.

If they weren't, then there really is not a SOL since the clock starts over as it changes collectors hands.
Click to expand...
Duranie -- is this fact in all states? My understanding is that the SOL runs no matter who owns the debt. The key is that the prosecution of a claim must begin within the time beginning from the time set forth by law, typically when the claim arose or the creditor could prosecute. If what you say is the case, then wouldn't these companies simply sell to a straw man (or shell corporation) just to keep the claims "fresh" -- which they aren't since they are stale?
 
Where did you get the facts that SOL clocks start new when a creditor sell their debt. If so, does this apply by federal law and which section? Does it apply to CA?

Duranie said:
If the accts were included in your BK then you should not them money.

If they weren't, then there really is not a SOL since the clock starts over as it changes collectors hands.

If you are on disability you might to see if you qualify for legal aid, they might be able to help you, or see if you can get an attorney to help you pro bono.
Click to expand...
 
Hello

Im new to this site as well. I also have a Lawyers office trying to collect on a
credit card after 12 years. The lawyers office (3rd party),is now collecting for the collection agency. *sighs* I just recieved the letter today. However, Towards the bottom of the letter it says unless you, the consumer, within thirty days after receipt of this notice, dispute the validity of the debt, or any portion thereof, the debt will be assumed valid by this office.

So, *takes breath* I went online to find information on Statute of Limitations.
Ive come across a number of sites example: http://www.suzeorman.com/igsbase/igstemplate.cfm?SRC=MD012&SRCN=aoedetails&GnavID=20&SnavID=20&TnavID=&AreasofExpertiseID=24
most say to contact the Office of the State Attorney General. (Personal Thought.. alot of sites seem to give you the run around, nothing seems to tell you exactly what to do, besides consult a Law Firm. :confused: )

So getting no where with finding information on Statue of Limitations, I decided to look up information on sending a validation letter to the collector. I found this site that may be helpful. http://www.creditinfocenter.com/rebuild/debt_validation.shtml . It may just help you. Its worth reading. You may also try this site, but I didnt really read through it. http://www.credit-repaircentral.com/validationletters.html .

I hope this helps. *crosses fingers* Let me know if it does.

Jazmine
 
try this

Go to the federal trade commision website and look under fair credit reporting act. the new law states for all states that after your first 30 days of miss payment your 7 years starts from there no matter how many times they send to different collection agencies. after 7 sevens you do not owe the debt. absolutely do not respond to any letter from a law firm or collection agency they are trying to scare you. if anything show up on your credit file contact the credit buearu and dispute it since they are not allowed by law to report any out dated/old information if the debt isnt current it is considered outdated/old.
hope that this helped.:)
 
I just found this forum...I think I am becoming addicted to forums .

I see this question often and it is very important to understand this one.

Most debts do have a SOL (statute of limitations ).....some however do not such as student loans, and taxes.

Once a debt has reached its SOL, it simply means it is time bared for collection. SOL varies from state to state, I live in Texas so the SOL is 4 years.

Now with that said, after a debt has reached SOL, a junk debt buyer has probably bought the debt for literally pennies on the dollar. Just because the debt is SOL, you still owe the debt.

A junk det buyer can sue you for a debt that is sol. If you do not show up in court and tell the judge that the debt is time bared from collection, he will get a default judgement simply because you did not show up in court. It happens all the time.

If you are ever sued for a debt whether its in or out of SOL, show up in court. If it is in SOL, challenge the validity of the debt, many times they don't have the documents to prove YOU owe the debt. If the debt is out of SOL, show up and tell the judge the debt is time barred.
So many people get served and just stick their heads in the sand, resulting in a default judgement . Junk Debt Buyers count on this, it is how they get wealthy
 
Also don't at any time acknowledge the debt orally or in writing. If you reaffirm the debt it's possible they can hold you accountable for it.
 
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