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  1. #1
    Join Date
    Jul 2006
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    Default Re: Effect of Considering a Debt Collection Settlement on the Statute of Limitations

    Quote Quoting JessicaLevin27
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    Well, Performance Capital Management does not appear to be aware of this rule about not calling after SOL has expired, because they called me today, and when I answered and said SOL was expired, the man said that while it might not be legally collectible anymore, it's still a valid debt and they are allowed to continue calling to request payment. I'll check out the link you posted.
    SOL is an affirmative defense.

    It has nothing to do with your situation.

    Google.

  2. #2

    Default Re: Effect of Considering a Debt Collection Settlement on the Statute of Limitations

    Quote Quoting seniorjudge
    View Post
    SOL is an affirmative defense.

    It has nothing to do with your situation.

    Google.
    I googled "affirmative defense" and in my particular case, I think you mean, if I get sued for a debt that is past the SOL I raise the issue of SOL and that is all the defense I need, it is a solid legal reason for not paying the debt and the plaintiff would lose.

    However I am not looking for a defense in court because I do not expect to be sued for a debt that is beyond SOL. The question I raised was whether a debt collector can still call after a debt is beyond the SOL and I haven't read anything here (or linked from here) that says they can't.

    I did check out the link provided and it seems to deal more with starting the validation process when a debt collector calls.

    I have two things going on:

    1) debt that is past SOL - I occasionally get calls but it's not collectible and I am not worried about it (it's going to roll off my credit report in about 15 months, I hope - if it doesn't, I'll deal with it then)

    2) debt where the creditor has gotten an arbitration award - I will probably try to negotiate a lump sum settlement, and then claim insolvency with my tax return so I don't have to pay tax on the "forgiven" amount. I have researched this exhaustively and know exactly what is required in this case, and am prepared to do it (as long as I can negotiate a reasonable settlement).

    Last week, a debt collector on the amount with an arbitration award sent me a settlement offer - today I sent back a certified letter with return receipt requested saying I disputed all or part of the debt, and requesting verification of the debt. This is not just a maneuver, I actually don't know how a debt that was $34K two years ago can be up to $61K today.

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