[deenalyn]

I live in NY and I had a judgement placed on my credit report for a credit card I opened in college and never paid off...10 yrs ago. i didnt go to court, so I defaulted and the judgement was added to my credit report. Well, I get a call from a collection agency regarding the debt, and when I told her that the debt was 10 years old and would drop off my report, she claims that the credit agency "renewed the debt", and that every 10 years they are allowed to do so...Is this true? My creidt score has dropped 33 points since, I believe due to this...and the original debt was app 1000, and is now over 4000...Thanks!

[seniorjudge]

You need to negotiate this settlement.

See if they will take $2K.

[Mr. Knowitall]

New York judgments can be renewed. You can check with the court which issued the judgment to see if that in fact happened.

[deenalyn]

If I do not pay it, can they take legal action (e.g. garnish my wages or freeze my bank account?) They didn't do anything in the past ten years, so is is safe to assume they won't in the next 10?

[Mr. Knowitall]

If I do not pay it, can they take legal action (e.g. garnish my wages or freeze my bank account?)

They can engage in any collection tactic permitted under the laws of your state.

They didn't do anything in the past ten years, so is is safe to assume they won't in the next 10?

No. As you have observed they're pursuing it right now.

[deenalyn]

ok...Is there any statute of limitations or any way to get out of this...I just graduated from grad school and have a fortune in student loans to pay off..Is there a SOL, or any other defense?

[deenalyn]

oh, also, do you know what the legal collection tactics are in NY?

[Betty3]

re SOL - it looks like your judgment was renewed - you need to pay it. They can garnish wages, seize bank accts., etc. You need to see if you can negotiate the debt as suggested by senior judge.

[David1nchicago]

Deenalyn,

I too am being charged with a credit card bill that's over 10 years old. In my case the card was a pre-paid card from a company, In other words I had to send in $300.00 to open the account when My Daughter was going a way to college , to make the story short I tried using the card to rent a larger auto and was told there was'nt enough monies on the card to use or allow me to rent so I put another $200.00 on it and used the card for this rental....bringing My total to $500.00 available , once that was used up not the total amount We closed the card out, and are now being charged for a total of $1.500.00 + . This hardly seems right that I would be charged this amount or any amount since the monies were mine to began with. In Met one of the attornies for the card company at the Court house and he wanted Me to settle by paying half.............How unfair is that ? But these companies are Blood (Money) thirsty at all cost.......any solutions out there for D's problem or mine Please Let Us know what recourse we Have other then Paying for something that's unfairly being charged to Us.


Thanks

[David1nchicago]

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