Collection of Credit Card Debt After Statute of Limitations Passed

Jeannettemae77 · #1 08-04-2009, 03:40 PM

My question involves collection proceedings in the State of: Tennessee

About a month and a half ago I received a call from a lawyers office stating that they were calling to collect on a past debt. They left a voicemail and since I have been working like mad for the past 5 or more years to try and straighten out all my past debts I called them back to find out what the call was in regards to. They stated that the call was for a credit card dated back in 1999 and it took them giving quite a bit more details than that to even job my memory as I thought this was something that had long since been taken care of prior to my divorce, etc. Well, without thinking I got all the information I could from them and in turn gave more information than I should have I realize now and even made a "good faith" payment in the amount of $100.00. I did not know, at this time, there was even such a thing as Statutes of Limitations where debt was concerned. I didn't find this out until after talking to a friend and doing some research of my own.

Well, since then I have found that the SOL for TN is 6 years in regards to CC debt and the lawyers firm that contacted me is actually what is considered a scavenger debt collector that basically buys old debts that have long since past their SOL's with the original creditor. My question is, did I screw up major by doing this & reset the statutes of limitations back to zero?

How do I need to proceed with this? I have not since answered any of their calls or sent more money, but I have this suspicion that I've already crossed that bridge and it's too late to do anything but be stuck trying to pay this off.

If anyone has any advice they could share, it would be greatly appreciated. I don't need another negative hit on my credit having made it this far in the clean-up process but I am quite unsure which way to go right now.

Thank you in advance!

minasmom · #2 08-05-2009, 02:10 PM

From what I understand, making a payment on the account does reset the statue of limitations.

Also, have you checked the credit card application for the company to make sure that they don't specify what State laws preside? I had a debt that I posted on here that is well past my State statue of limitations, but upon reading the credit card application for the merchant found out that it is under Ohio law (which is 15 years for cc debt). Just throwing that out there because it is possible you didn't screw up too badly and really can still be taken to court over it. Don't bang your head too hard!

Betty3 · #3 08-05-2009, 04:39 PM

Since you made a payment on the credit card that should have restarted the SOL.

Jeannettemae77 · #4 08-06-2009, 06:55 AM

Well from what I've been able to find online it appears that the main company is out of Texas which has a 4 year SOL across the board unless my research turned up wrong

So, even though this is not the original debtor it can still play out the same ie., being taken to court if I don't setup some sort of payment arrangement?

Any advice on how to proceed with this? I'm lost and now quite sick to my stomach knowing that I just cost myself money that could've been kept because of my lack of knowledge, which I'm sure is exactly what companies like this count on.

minasmom · #5 08-07-2009, 12:32 PM

Yes, even tho it is not the original debtor, they can still sue you. If they purchased the debt, it is now theirs.

You have only said they have contacted you via phone-no mail contact yet?

Also, just because the original cc company is located in Texas, doesn't mean that is the presiding SOL. You need to get ahold of their cc application and check it out.

Jeannettemae77 · #6 08-10-2009, 01:09 PM

Nothing via mail yet to date. Only phone contact so far. I'm having a hard time finding anything except past data (and minimal at that) about this company. It appears they may have been sold/bought out. I'll do some more digging and see what I can come up with. Should they have contacted me by mail already?

minasmom · #7 08-10-2009, 05:51 PM

I would ask them to send you something in writing the next time they call. Any communication from them should have a clause about disputing the debt. At that time I would write them a letter (send certified) asking them for several things. If you would like a copy of a letter that I have, pm me. This will put the obligation to prove that you owe the debt back on them and will give you an idea of what evidence they actually have against you (i.e. do they even have a copy of the agreement you originally signed?).